I have been rained on 3 times with my 2014 FLHX, the Rushmore air cleaner housing did
not suck in any water that I know of. I also have a K&N replacement air filter inside the
stock housing, K&N part HD-1614.
Even if is capablei think your throttle body cams and heads are tthe limiting factor after removing the backing plate with a stage 1 kit. Might be a good question for the engine section guys.
I've ridden in more rain then I'd like to even think about. Even was riding out of Houston when tropical storm bill came rolling in. Sucked but the 14 air cleaner with a an big sucker backing plate never skipped a beat or sucked in water during my trip.
yes it will fit and you will not need a K&N filter the stock setup will flow all the air your engine can use unless you have done some major work to it.
As for rain I have ridden my 2016 in the rain already some pretty heavy rain the air cleaner is not an issue there either.