I replaced my exhaust yesterday. I had a leak at the Y-pipe and at the flanges for the cats. There were several broken hangers and both stock cats were bad and clogged up so it gave me plenty of reason to just redo the whole thing. I ended up using dual Magnaflow high-flow cats in the stock location but rotated and tucked up above the frame for better clearance. Also used a Magnaflow muffler and ditched the resonator at the tailpipe. All tubing is 2.5".
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As for the routing it's more or less the same as stock but tucked up as best we could. This means it still passes under the frame behind the cats which isn't ideal but not something I'm worried about.
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As for sound, it's louder than stock but not overly obnoxious. Definitely a more "throaty" tone through the entire range. It's very quiet at idle and while it's clearly audible at cruising speeds inside the truck it doesn't drone. Throttle response seems to be slightly better with my "seat-o-the-pants" analysis. Haven't had a chance to see if there is any mpg change yet.
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Overall, pleased with the result and definitely a improvement of clearance at the cats which was my main complaint with the stock system.
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Sorry for the crappy phone photos. Yes, I know I have a rear axle seal that's bad (fixing it tonight). Also you'll hear my starter clicking at the beginning of the video. It's also getting replaced (since I know someone will bring it up).
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Magnaflow cats
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Blurrly Magnaflow muffler
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Much better clearance at the cats
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Video for sound
https://youtu.be/wayuJlQYsxI