Fram HP-1, 35 years of Fram and no failures. Have taken the race engine apart every winter since I have been doing this and the bearings look as good as the day I put them in. This has raised my curiousity level so I did a little research.
Looking at what microns some of the filters actually filter. Wix being the worst at 60 microns and K&N being the best at 10 microns, Fram comes in at 18 microns. Oberg style filters at 60 and System One style comes in at 30. So if your really concerned about the internals of a filter put one of these on...no paper and a one time cost, no more buying filters!
As far as cost? On Summits website all racing/spin on type filters are within a couple bucks of each other.