If you have not purchased your exhaust yet, I would recommend the SLP loudmouth. This is what I recently purchased for my 01 Cobra. At first it was extremely loud

It almost sounded like running open headers. After a few days of driving, it became seasoned and more quiet to the point I where I could actually listen to the radio. It does not use mufflers but resonators. Lower mass than those oval mufflers. The ID of the intermediaries is 2.5 inches which mates up nicely with the H pipe connectors. It is constructed with 409 stainless steel with 3.5inch polished 304 stainless steel double walled tips. As for the neighbors, they will hear you comming but playing the throttle a bit, it is not hard to keep it quiet. Once you punch the gas, and if you like that hot car sound, you will get it. To begin with the Cobra does not sound like the typical V8 (due to the 4V) which has that V10 or V12 sound. I have been getting alot of compliments on how nice my car sounds, including one from a camero owner who told me that

"boards suck" that took a while to figure out what he meant by that.

Then again, the SLP may not be what you are after if quiet is what you are looking for. At least the magnaflow is better quality than the MAC. I read some nasty comments about that product. How does it sound? I picked SLP since it was the resonators I was after, it was a cost alternative to the aero-turbine muffler.