Can't tell you whats the "Best" for you, but I'll tell ya what worked quick-an-easy for me.
When I ordered my 5200 from Stovebolt, he sold me a air filter base plate and stud for $8.00. The base plate is just a piece of 6 1/4 " dia alum with an oblong hole in the middle. The stud replaces the center top cover carb bolt and sticks up over the center of the carb about 3" from the base plate.
I bought a cheap 10" by 2 1/8" chrome air filter from PAW ($13), covered both sides of the alum base plate with gasket material and everything bolted right up. Plus I still have about 3/4" clearance. You could cut the bottom lip off the air cleaner and bolt it directly to the base plate to gain more if necessary.
Hope to borrow a digital camera and get some pix asap.