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Generally they are legal, depends mainly on where you live. Noise is the biggest factor that get people in trouble.
If you have a 4 cyl dont waste your time as it will sound terrible IMO and not do much else.
If you are looking for performance, a full exhaust is what you need and a free flow muffler will give a nice sound that just wont be a bunch of noise. By free flow I mean from the exhaust manifold back, the Cat, muffler and tail pipe. Go to a performance shop and see if they will build and ask to not put too many bends in and to keep the system as straight as possible.
I've got a Thrush Magnum Glasspack (a.k.a. cherrybomb) on my '92 Explorer. Some people love the sound, others hate it. I like it. I've never been pulled over by the cops, and I dont think it's illegal in this area at least. Check your local laws before ordering.
When I put mine on, the pipe from the convertor to the muffler had rusted through just before the muffler, and the muffler was hanging free. I removed the muffler and everything behind it (resonator and all the tailpipe). I evened up the rusted pipe, stuck the glasspack on the end, and clamped it down. On the other end, I placed the existing hanger on the end of the glasspack, and clamped a turndown on the other end. The clamp holds the hanger on. Total cost: $20. The wonderfull racket this thing makes: priceless!
Most of that sound is just tuning of the exhaust ports. You might just take it to someone who does custom exhaust work and ask them if they can alter the sounds from it without resorting to glasspacks.
I know my '00 Ranger 3.0 sounds beautiful most of the time. The only time it gets a little high pitched is when I have to punch it on the Interstate to battle my fellow road warriors at rush hour - normally the tranny downshifts to second and the engine will rod out for a few seconds. Other than that it has a very nice soft low growl at most RPMs.
Dont get me wrong, it is a nice low tone/growl. IMO this = wonderfull racket. A 2.9L may have a little more of the tone, and less of the growl, since it revs up higher. In addition, your cat convertor will take some of the harshness out of it before it ever gets to the glasspack.