The K&N is very cool.
I've never heard of moving the MAF sensor before. Its going to read less air, so it will give it less fuel, making it run lean. Being how it's already running WAY lean from the new filter, even less fuel is not good at all. Also, moving the sensor will make tuning near impossible.
As for the filter, I have one on my bike as well, but it is mounted to the front of the oil cooler, so its out in the wind.
Doing mods are cool, but the trick is to do them right so you're doing good and not bad. That's why we're here on these forums, so we can help each other out.