Okay, you have a '97. The exhaust is a good upgrade. Warpspeed is a decent company. Their parts are good. Not as high of quality as Cattman, but not bad. Dallas, owner of Warpspeed is a worthless pile, and if you have any problems, he will give you the redneck runaround.
A Y-pipe is absolutely critical. There is a WAY higher gain than 5hp. In a VQ35DE (2002-present), you will get a 5hp gain. You have the VQ30DE (96-2001), and the gains are dynoed at 20-30HP, depending on what other mods you have. (The Dyno results are from people who actually use these, not some BS from the manufacturer) I can not stress the fact that for our cars, the Y-pipe is the best HP for the dollar mod.
Pass up the 3' pipe. You will lose too much bottom end. Unless you are going to go turbo, or S/C. If you are not planning on having forced induction, the 3" is way too big. N/A, a 2.5" is as big as you want to go. 2.25 is a decent size for keeping the all around power. Freeing up the flow, by replacing the Y-pipe and switching to a high flow cat, will give you more power than opening up the pipe to a 3".
If you need any installation instructions, look here:
zerothread/215223