What is the purpose of this on the bottom of the elbow?

 

I was told once it was to dampen intake noise but i have no idea as to the validity of the aforsaid statement.

 

Yes... it eliminates intake resonant noise. There is an elbow available without the big plastic tube. Go to Shoebox's parts list page and find the "1LE intake elbow". Search on "1LE", and you WILL find it there. There is one part # for the 93/94 cars, with the unvented Opti, and one for the 95-97 cars with the vented Opti.

Or remove the big plastic tube and plug the opening with something that provides a smooth surface on the inside of the elbow.