Final review after 2 months with the Cargraphic Exhaust, Loud Version. As previously mentioned, please take my review with a grain of salt. Although I've listened to a lot of exhaust systems, this is still a matter of personal preference, and I am an all-out audiophile who uses a Conrad Johnson tube pre-amp.

More than any other mods in my car, the Cargraphic exhaust has caused me to behave in ways entirely inappropriate for my age. I've found myself revving my car at stop lights, revving my car in parking garages, even driving around looking for empty streets with tunnels so I could hear the thing at WOT! I realize these behaviors are borderline rude but sometimes I can't help it.
Kidding aside, while it may not offer meaningful performance gain (one gets used to the seemingly quicker rpm climb) like the Bilstein PSS10, the Cargraphic mod accomplishes the same goal. It does things that wake up the Turbo and turns the car from a somewhat boring luxurious grand touring type to one with a vastly more aggressive and sporty character.

1. Upon start up, the exhaust gives a delicious and "crunchy" (no other way to describe it) roar, then settles down to a lower frequency rumbling. While lasting only for a couple minutes, the initial roar is important because that's what you hear of your car first, and often.

2. Once the car starts rolling, at low rpm, a low frequency rumbling that's not too loud and not too intrusive, yet definitely there. The low frequency component was an important criteria for me when I was shopping around: I don't like exhaust systems lacking in low frequency sound because they then lack a sense of heft/power. Yet, get this rumbling too loud and the neighbors will want to disown you, as low frequency noise is extremely bothersome to bystanders. The Cargraphic Loud strikes a perfect balance for a neighborhood-friendly car. In short, despite of the name, this system is not that loud at low rpm. If you want a really lound system at idle, you need to look elsewhere.

3. Where does the excitement come from? A mid-range, not high-pitch roar that starts around 3000 rpm, becomes urgent and loud at 5000 rpm, and absolutely, positively screams at 7000 rpm. The roar changes in pitch and loudness as you go up the tachometer so that by red line, it is a gorgeous howl with a mechanical character not unlike those race cars I heard at the Long Beach GP (but, amazingly enough, still not nearly as loud).

4. The downsides to all of this? One, cost (a lot more $$$ than American systems, but about same as other European systems). Two, Porsche does such a good job of insulating and sound proofing in the Turbo, that you do not hear nearly as much unless the window is down, or you are up there in rev band, or when you are in a tunnel. I still believe that the most spectacular sound from this system is reserved for spectators, those standing on the sidewalk when you do a fly-by at speed. The machine-gun like staccato burst is guaranteed to be jaw dropping!

5. While the Cargraphic Loud wouldn't take you to the gold standard, in my mind that belongs to the howl of a Lamborghini -- orgasmic is the word that comes to mind, it is now way up there, an extremely exciting sound that I could recommend without reservation. Shoppers might want to pay attention to the post above by "sharkster." His shop is one of California's most reputable Porsche specialists; listen to what he has to say about the Cargraphic Loud. http://www.sharkwerks.com/products.php?model_id=1&type=Exhaust
That said, bottom line is you still have to listen with your own ears and probably a good idea to NEVER rely solely on internet video and sound clips (see explanation in the 2 posts above this).

Oh, almost forgot to mention I got a US $375 traffic ticket the second or third week of ownership, while test-listening to the sound. First ticket in a number of years and first time in a Porsche. As you already know, to hear the exhaust you need to go a touch faster than normal; I was so happy listening to the exhaust's scream that I didn't pay attention to the radar. Cop was NOT pleased (didn't you *HEAR* my siren? )