Yes, spacers do create a space between the intake and the throttle body. That is probably the only thing you'll get anyone to agree on about spacers.
No one can definitively say one way or the other whether they increase power, save fuel etc. I've got one on my jeep and I THINK it gives it a little boost of power. I don't have to downshift as often going up a steep bridge around here. But, plenty of people will disagree.
IMHO I dont see how they would help.It really doesnt allow any more air to flow into the motor.It just raises your TB higher in the air.What would help is to hone your TB to a bigger bore.