I had the same FM piece on my car when I bought it. The only good thing I could say about it, is the fact that it's better than stock. I did manage to go 12.9's with it. However, as good as Flowmasters sound, they are not the hot tip for turbo cars! They're designed to work on an exhaust pulse, which is irrelevant on our forced induction cars. They are a lousy design for our apps.
I too have switched to the Hooker Aero Chamber system, and really like it! Sounds good, but quiet until under a load. Easy installation! Very economical!
We'd all like an ATR stainless system, or the equivalent, however, some of us don't have money trees, therefore we have to go with the next best thing.
One other suggestion, if you think you can get away with it--- I had an '86 GN with a completely stock system, that when the muffler rusted out, I just removed it completely and paid $50 to Meineke to weld on stock appearing pipes on each side. It sounded distinct (a little loud, but not bad), and certainly performed better than the stocker or even the Flowmaster. Just something to consider...