I actually believe that chiptuning is able to significantly increase the drivability of many cars, especially (only?) ones with FI engines.
At the same time, fuel efficiency can be SLIGHLY improved or kept the same, at lower revs where the power usually is about the same on these FI engines. Of course a turbo pushing a lot more air than standard at high revs will make the engine require more fuel.
A related topic is aftermarket air filters. Seriously, replacing your OEM filter will do exactly nothing to your car. Unless your filter is extremely clogged by shit, it won't change anything. I have actually measured pressure drops all the way from the intake snorkel to the intake manifold, and a new aftermarket filter was no better than a 3 year old OEM filter that was pretty dirty. Cold air intakes will of course help with the air temperature, but please do it correctly.
tl;dr Chip tuning works for turbos. K&N is a scam.
Also, major bumpage.