" Does a side port 1) increase the players
perception of tone and/or volume..."
Yes, and no. (don'tcha love definitive answers?) Basically, the benefit you get depends on where the hole is, and where you're playing it.
Several years ago RM Motolla borrowed my 'corker' guitar to do an experiment on side ports. He did a blind test with a number of players in different venues, to see whether they could hear the difference with the port open or closed. He determined that they could not. When he published this in 'American Lutherie' magazine people went ballistic. Some of the responses were pretty funny: "I can never hear anything in blind listening tests, but I _know_ that ports work!!!"
One of my students does statistics for a living, and pointed out that the sample size he used was marginal. In his defense, it's hard to recruit people for these things. My main objection was based on the places where he did the tests: a luthier's workshop, and the practice rooms and a small auditorium in a music school. Based on the changes I've measured comparing a guitar that ported or not ported (in fact, the very one he used), I'd say those were the wrong venues for that test.
Aside from the (sometimes major) shift in output in the low range, the port also radiates high frequency sound. Normal guitars act as 'point sources', more or less, for the low end sounds, because the box is much smaller than the wave length of the lowest notes in air. As you go up they tend to become more directional, particularly above the 'bass reflex' range around the pitch of the open G string. By the time you hit 1000 Hz or so, a lot of the sound is going off the top and out of the hole toward the audience. The player generally only hears this from room reflections. In small, quiet, lively rooms, such as the ones he used, there's enough high-end feedback to the player that opening a port doesn't help a lot. The real test is the 'restaurant gig', a fairly large, dead room with some background noise, or so it would seem to me.
I did some testing at the last two Montreal shows, as well as at a folk festival last spring, and at the GAL convention last summer. In every case the rooms were fairly large, at least somewhat 'dead', and there was considerable background noise (roughly 70-72 dB-A in frequent measurement with a meter). One recording of the sound showed it to be 'white' noise.
The results I got were pretty clear: blindfolded players were just guessing when they played the guitar twice with the port unchanged: closed-closed or open-open. When the configuration was changed they got it right almost every time.
One possible objection to this is that noise is noisy: in this sort of setting you can't guarantee that there was not more noise, or worse noise, for some trials than for others. I did 120 trials, overall, so I think it's unlikely that there would be significant bias in that way. The results were consistent in all three (or four, depending on how you count Montreal) venues, so that does not seem to have been a source of problems.
It's entirely possible that large, dead, quiet spaces (the beach) would give the same results, but I have not tested that enough to know. It would also be nice to test a small, lively, noisy space. I could do that: playing white noise at 70 dB-A over my computer speakers in the shop while people played the guitar, but I'm not sure how much of that my students would put up with.
These trials were conducted with a 'test mule' classical guitar, with a port about 30x35mm in size just above the wide part of the upper bout on the right side. Logically it seems to me that the 'right' place for a port is where you can see it, since your ears are more or less behind your eyes. Ports at the base of the neck have a larger effect on the output for a given size, but may not give as much feedback.
" and/or 2) does it do either of those for the audience perception?"
The jury is out on that one. Even fairly large changes in power may not be very audible to the audience, and they're already getting most of the high end signal. There seems to be a consensus building that ports don't change things much for the audience, but this is muddied a bit by claims to the contrary, mostly by folks who have some sort of stake in the game, it seems to me. We won't know for sure until some blindfold tests are done on that.