Francois, it is really difficult to hear the REAL sound from a video file only.
I try to take a video with a high quality Dolby 5.1 sound, maybe you get an idea of the exhaust.
And I suppose the exhaust in the video has the same "problem": it is brandnew and it surely will change sound as soon as it is "broken in".

BTW: the exhaust in the video wouldn't be street legal in most European states, just for the book.
This is another advantage of the PSE, you can manipulate the loudness, just in case the police asks you to have it checked by the technical authoroties.

Referring to Dillinger: yes, the "old" PSE sounded a lot like the well known air cooled 911 sound. The new PSE (997) sounds a bit different though but I really hope it has something to do with braking it in (or burning it out... ).