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I can't speak for the Mac's, but there are are exhaust systems (Long tubes, high-flow cats, and better flowing mufflers) that have been shown to produce gains of over 23HP and 28LbFt of torque on what should be (no other mods listed) an otherwise stock 05 Mustang GT.
Any o/r pipe will smell like gas.. To the OP....your car will run better. Hp #'s won't give you the smile these babies will put on your face. Don't break that piggy bank because you will want a blower.