How about a Fabspeed catted downpipe. Sound + more noticeable power = win. Then later on you can decide how much louder you'd like to go. If just a bit louder then couple the dp with the M performance exhaust. Want louder than that? Couple it with a cat-back like Fabspeed or AWE. Want to raise the dead? Couple it with a muffler delete.
If you go muffler delete first and find that to be too loud (or just loud enough) you've barred yourself from a dp. Trust me, you'll end up with a dp. We basically all do.
I stayed away from a muffler delete due to fear of drone. There's a thread here somewhere where someone added a resonance chamber to their muffler delete setup that supposedly took care of the drone. Don't remember the name of the thread, but I believe the post I mentioned is like on page 3 or 4 of the thread. Can't miss it. The chamber is a J-shaped pipe attached to the exhaust tubing.