There are a couple of threads where I posted pics of the exhaust I did on my truck. I had purchased WH shorties and most muffler shops were in the $350-400 or more range with regular aluminized exhaust pipe.
http://classicbroncos.com/forums/showthread.php?t=120114
SO, for about $300, I bought a couple of SS Us, Js and two 6" sticks of straight SS tube, all the hangers, and several of the fancy pinch clamps/flanges for making the system modular (not in pics) and pieced mine together with the largest Magnaflow I could find 2.5" in and 2.5 " out (center/offset).
http://www.magnaflow.com/02product/shopexd.asp?zone=main&id=8335
I used my MIG with SS wire (dont recall the grade) but it was about $25 or so for a 5 lb spool. Used regular 80/20 mix and it welded fine. It sounds good, isnt loud, but growls nicely when you give it throttle.
Its not pretty, but everything is equal or above the frame rail. Its all SS...so hopefully, it will last for a while. I found a couple of pics of post-fitting and welding, but not totally cleaned-up. I didnt try to go for show...not too much about that. Function. The only thing I would change about it--which I still may is the exit. Straight out the back sends the exhaust plume into the eddy that the Bronco creates, with side windows in and no rear window, the exhaust will come in. With no side windows, you can still get a bit of exhaust smell, but its not bad, depends on speeds, windows (up/down), etc. Angling the exit the rear corner near the tire seems to work for many....one of these days I'll get around to it.
Previously, I had a set of true duals...L&L Ultraflow headers, SS Flowmaster Delt 50s, aluminized pipe, 2.5" all the way out. It was very loud, very aggressive. I am much more pleased with the new system--which is still rumbling on a buddy's rig...I prefer stealth these days.
Good luck.