A bit more of an update:
The Pandas do have only one silencer. The only way to achieve a low noise level with the one box is a 'tackle flow' (in sailoers terms). This by itself means quite a power loss and seems to be standars practise in Italian cars in these days. Therefore the idea is to split it in two silencers, which flow much better. End pipes will be different designs and made to order.
The centre section is pretty straight forward.
The manifold will be without a cat in it and the cat will be under the car, where it used to be in older models. The pre and post lambda will have its bosses before and after the cat.
The system will be initially a torque oriented system and power packages will be available at a later point if demand is there. The power packages will be designed to the use of relevant performance cams.