I replaced my air filter this year on my 1995 Thunderbird, and whilst I were dead lucky to get the old one off, and the new one on at the second attempt, I couldn't agree more that the design is absolutely stupid, and that's being kind.
The only problem that I came across, ( and I tried this one the old one not the new ) was that I found it impossible to separate the front half of the box, from the rear. The screws just kept turning no matter what I tried. My idea was to replace the air filter inside with a K & N filter, but I was about a week from going to Austria, and at the time living in spain and it was touch and go as to whether or not the filter would come in time, so I just replaced like for like. If you do attempt this, before you just replace the air box, check your carb rubbers from the air box to the carbs and from the carbs to the engine, as I found that 2 of mine had perished. ( To be honest as this is such a crap job I'd replace them while you have it all off, that way you know your good for another 25000+ miles ) So whatever you do check these whilst you have the air box off, or you'll kick yourself a few miles down the road when you find out they're not up too much, and you have to go through all the hassle again.
A tip for you when you attempt this job, have the kettle on stand by for a cup of tea, and walk away from it when the air turns blue, and it will.
The only other problem that you'll have to keep an eye on is the 4 lugs that hold the chrome side covers on they can split, and if that happens you'll have one hell of a job to get your side covers off. I always put a bit of copper grease into the screw threads to help removal at a latter stage. ( Not that this in itself will help with the splitting problem it won't ) With regards to the splitting I have put some cable ties around mine, and pulled them as tight as I could giving the steams a bit more support.
Good luck with it anyway.