What truck is this? Mine is a Mega cab, and the megas have a resonator near where the pipe bends over the rear axle. All other models don't have it. I left my cat in, cut out the muffler, and left the resonator in. It's perfect for me, nice mellow tone at idle but still sounds good under throttle without adding much extra noise inside. I put a 5" MBRP system on my '01, and while it does sound freaking awesome, I was ready for something quieter with my '06.
If it was me I would just go down to an exhaust shop and have them remove the cat and old muffler, and have them put a brand name performance muffler in and be done. Probably would be less than $250.