My though is that for any worthwhile increase in performance, the entire exhaust system must be less restrictive (without over-doing it) from the engine to tail pipe. Changing only one small portion along it's path will do relatively nothing. Depending on the budget you have set for this mod, I suggest an up-rev tune, HFCs, and a minimum of cat-back or axle back muffler system with a good, deep throaty sound closer to a bentley then a magnaflow. That will provide a nice level of sound without detracting from the "luxury performance" character of our cars.
I love my Tanabe Medallion cat backs. I wasn't after more HP. I just wanted a throaty but non-mustang sound and Tanabe came closest without going past the loudness level I was looking for. A deep throaty exhaust that invades the cabin without taking over the cabin.
Consider the whole system and what you want the finished product to be. Keep in mind that changing any one part will affect the sound inside and outside the car. The more parts you change, the more dramatic (and louder) the effect. You have to find the middle ground that is best for you between the two extremes: Obnoxiously loud ricer <<<< throaty with performance sound >>>>> Stock low level sound
Check you tube for sound clips of the brand you are after eg: "ARK Inifniti" "BERK Infiniti" etc. below are some examples. These are with G models, but they have nearly the same engines as the M35, M37, and Q70 3.7 models. Our cars are quieter inside than any of the G models, so consider your car will have a slightly less interior presence with exhaust changes but it gives you a good comparison.
Tanabe + HFCs only:
https://youtu.be/ZxfkHIx3MIM
Tanabe + HFCs + Y-pipe:
https://youtu.be/N8FmYwldhbE
Tanabe only - inside sound level:
https://youtu.be/h7mIP3lCFqA
Tanabe + Y-pipe acceleration form inside:
https://youtu.be/yZZkFCAUGTo