I just put on 40 series original flowmasters in my car, and they sound great. Although way too quiet for my taste, they fill your ears with a bass drone drone about 1900-2200 rpms and I love it......some do, some don't. Above that, it just has a smooth,well tuned muscular sound. I was gonna get an off road h-pipe as well, but I heard a flows/mustangtuning (pypesexhaust)x-pipe combo and was sold on it. I forget whose clip it was (maybe streetstang, if i remember right), but it is very clear. Besides, I'm getting supercharged in December, and the x-flows better.
I had a
flowmaster/ off road h-pipe combo on my 5.0 and it was the best sounding car I have heard to date (confirmed by many others, but that's neither here nor there. However, I'm not sure how comparable the tones of the '95 5.0 and a 4.6 are.
I think you just have to keep listening and decide what you like. Unfortunately, most exhaust clips don't do the cars justice...I turn my surround speakers and bass up to try to get it there.
Everyone has diferent ideas of what the perfect combo of any aspect of the car is. Do keep in mind that some combos will produce more power than others, so you need to balance out whether going for sound soley, or a little extra performance as well.
hope this helps,
Kyle
o yeah, my vote: Flowmaster 40 (not delta flows) and mustangtuning/pypesexhaust off road x-pipe