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Most people go with a cat-back Flowmaster, Gibson or Magnaflow. I have the magnaflow and like it very much. Still quiet at idle and cruising but lets you know its there when you accelerate. Don't waste your money on replaceing the cats, they are already very free flowing. I had mine tested when the muffler went on and there was less than 1lb difference of airflow. For diameter, you should look at either 2.25" or 2.5". Anything bigger and you begin to lose performance.
I'd go with a factory original exhaust system to avoid the annoying noises present with any aftermarket system - but then I'm biased: I did the development work on the system on your truck!
Cost of a factory exhaust from a dealer will vary wildly depending on the dealer; if you can't find a reasonable price at a dealer, you could try Walker's "premium" line of replacement exhaust parts.
The factory system will have better materials than any aftermarket system, so it kinda depends on how long you plan on keeping the truck.
Regards,
- R
Rezvani's Latest Post-Apocalyptic Monster Is a Ford F-150 Raptor Underneath
Slideshow: Called the Fortress, the 850-horsepower pickup combines Raptor underpinnings with military-inspired features, survival equipment, and a starting price of $285,000.