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That (stock) muffler location is the easiest way to spot a 5.4 in an EX, all the other motors have the muffler between the frame rails ahead of the rear axle.
I had a Gibson on my 351 Bronco many moons ago. Had a nice rumble but not too loud. You might try searching for clips on Youtube, lots of muffler combos posted.
I know it is a different engine, but we are running a gibson setup on my wife's Ford Edge. It has a great sound and overall are a nicely put together kit.
I also had one on my old F-150. It was a little loud with cabin drone, but it dumped out before the rear tires, so I am sure that had a lot to do with it.
Cheapest 1st step is go to any muffler shop and have them cut it off and replace it with a piece of pipe, $60 tops. Then if you don't like that then just replace the muffler underneath the truck with a better/higher flow one $100-$150. No need to buy a whole exhaust just replace the important parts.
Take a good look at your Y pipe first, some years the 5.4 and 6.8 had a T pipe that was very restrictive, if that's what you have now then I would start there with a new better flowing y pipe. After that maybe look at aftermarket performance mufflers, start at the front and work your way back.
Apocalypse swapped in a good Y pipe on his 5.4 and was happy with the results.
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