in my opinion, I would leave the intake as it is, the diameter of the intake is quite sufficient for the engine. Cooler air will indeed improve things a bit as Danie says, which is of course better than sucking up the hot air around the engine. There s also the issue of the velocity of the air that goes in. All within limits of course, the same amount of air will get at the same amount of sucktion, faster in the engine through a smaller tube, compared to a larger diameter tube.
One could actually get problems by overdoing it either way. A too small intake will effectivly limit air flow, a too large one could get a carb niva running too lean with possible stalling problems. A tbi niva might compensate enough, but will most likely inject more fuel to get the correct mixture.