I'm running the SLP set up which is 2.5" headers back, if you do anything with the stock cat, you'll need the O2 simulator sold on PFYC.com.
Want dual exits? OK go with the Flowmaster 80. It's called "Camaro" style. Single in dual outs. I had that done before the SLP. Flowmaster and Magaflow are made by the same company, it's just that Magaflow isn't a camber muffler like Flowmasters are. Magaflow, I think, is made like a rice muffler. Straight thru with fliberglass packing inside, but I've heard they stand up pretty good.
Bumper cut? You have 2 options. You could get a bodykit, or just the rear bumper cover from a body kit and have that installed, or what I did, I took the car to a good body shop and had the bumper cut out by them. Yes to could do it yourself, but what they did at the shop was take an exhasut cutout from an old GM bumper, cut out a space, and blended a stock cutout in there.
It did cost about $400, but it's well worth it. I've had GM dealerships ask me where I bought my car, and what option did I get to has the rear cut out like that
This is a very old pic