The Hooker Aerochambers are a straight through muffler, no baffles to restrict air flow. The Flowmaster 40's have baffles in the path of the exhaust.
I had the Hooker's on a '95 Bronco 5.0 with headers and 3" exhaust, they gave it a nice deep sound. I never heard them on a Mustang though.
I had Flowmaster 40's on a '84 Chevy Silverado with the 350, Hedman headers, and true 2.5" duals, no cats. They also gave that truck a mean sound as well, especially with the aggressive cam. But, then again that's no Mustang either.
All in all, I think the Aerochambers would allow for better exhaust flow.
I'm sure some of those hear with a classic Mustang could give you better
sounding advice. Pun intended.
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2002 Mustang GT auto: SLP LM1, 8" shorty antenna, grille delete, coin delete, Cervini front bumper, SCT SF3 93 octane, JLT RAI, Professional Products 75mm TB and Plenum, FRPP 4.10, 10.5x17 DD Bullits, Nitto 555R's
1/4 in 13.828 @ 99.13
"American muscle needs a healthy diet of Foreign rice."