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I want to know the same thing. And can it be installed without having to cut the old pipes? I know the X-pipe is bolt on, but is the pipe we are removing held on by bolts too?
Typically mellows / smooths the sound (reduces popping / gurgle). Minimal, if any peak rwhp, might see < 2 elsewhere in the curve. '02 Z06's have also used this to correct odd sounds coming from the stock h-pipe.
As mentioned above, they tend to smooth out the exhaust and reduce the popping sounds. They don't eliminate the popping entirely though. I doubt that they give any horsepower gains. On mine, I only need to cut the old ones. You can read about them in the Review section. I have a Basanni x-pipe but would recommend a cheaper one, though you should probably check and see which ones need to be welded and which ones don't.