OK all, as long as I was down there, we decided to spend a few days in Carlsbad. After driving the for a few days, I can tell you that the two videos posted sound nothing like it does in person. I think Magnaflow is doing themselves a disservice with those clips.
First the good news, the sound is definitely not raspy and fart can like. Also, as with TprGTO's Borla set up, there is no deep resonating rumble but we already expected that with teenie tiny 2.0L motors. The sound is nice, probably a bit louder than I wanted but not obnoxious loud. When I rev'd the engine for the first time, it surprised the heck out of me. The sound was powerful and sounded like I was in a sports car. I'm not sure I like the gurgle noises but it only happens when reving the engine hard which I don't plan to do often. Through the power bands is where it is loudest. In fact, there is a bit of vibration that you can feel in the cabin when you are going through the power band from the exhaust. I'm not sure if this is because I have a prototype on the car but it's a positive attribute, not a negative in my opinion. With the windows up, you hear the exhaust note from the back. Step on the gas, it gets much louder until you're out of the power band.
In summary, I think it's a good set up. It's a bit louder than I expected, I was hoping for an exhaust note that would only be heard during hard acceleration and more or less tame during normal driving. I'm getting used to it and am quite happy with it. For those wanting a quiet ride, you won't get it with this set up. For those wanting a sports car sound, you should be happy. For those wanting super loud exhaust notes, you may or may not want this set up as it is probably too pedestrian for you.
Specifics:
Magnaflow tried different configurations and settled with 2.5" tubing. 3" tubing was found to be less efficient when dyno'd.
Improvements:
6hp and 13lbs torque.
And here's the bad news:
I'm still waiting on the pricing quotes, their bean counters are working on it. I'll pass on the information when I get it.