On a carbureted engine changing the air filter *does* result in better fuel economy. Thats where the old convention came from. But it no longer applies to a fuel injected engine, even your diesel.
As for reduced performance being caused by a restrictive filter, the throttle plates are by far the greatest restriction to intake air flow in anything short of wide open throttle. So, yes, at WOT a restrictive or dirty filter will cause the engine to be somewhat restricted in air flow. Unless you are at the drag strip, how much time is your throttle actually pinned wide open; how important is it to get those extra couple of horsepower at WOT? Most of us would be better served by pushing back from the dinner table more often to improve our power to weight ratios.
As for reduced performance being caused by a restrictive filter, the throttle plates are by far the greatest restriction to intake air flow in anything short of wide open throttle. So, yes, at WOT a restrictive or dirty filter will cause the engine to be somewhat restricted in air flow. Unless you are at the drag strip, how much time is your throttle actually pinned wide open; how important is it to get those extra couple of horsepower at WOT? Most of us would be better served by pushing back from the dinner table more often to improve our power to weight ratios.