I've been running that exact Mr. Gasket adapter for at least 8 years now with no issues. I do have a body lift, but I think it would clear with a stock air cleaner.
I did notice the adapter was cracked yesterday at one of the mounting points when I did intake manifold gaskets. Summit sells some nicer looking phenolic 2 4 to 2 adapter too. Always had good vacuum for me, but I'm running a stock cam. But like Broncnaz said, I don't think you'll see any huge performance gains. Maybe a squeak of better low end torque. It is nicer to pull on and off, but given how often you have to change intake gaskets, is it really worth it? I just put a stocker back on since I had to change the gaskets and since I'm not looking for "seat of the pants" out of this motor. The 80s aluminum Ford intakes are nice, but are hard to find and will require a 2150 carb and not a 2100.