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Lose 1 hp if anything.
Make sure it's a perforated core not a louvered core.
The key is that it changes the resonance of the exhaust. Sort of like a sound blender. Doesn't muffle the sound but makes it easier for the muffler to do it's job. should eliminate some drone and unwanted noise.
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Comments should be taken as Opinions not as Statements of Fact 
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