I run Borla Pro XS on my 489, they run good and got rid of the horrible drone I had from Flowmasters prior to the swap. After the swap I was surprised to feel more power everywhere, it was win/win for me
I recommend that you go mandrel bent and anything but Flowmasters. I like Pro XS, but Magnaflow or Hooker Max Flow all use the same design and will work great.
I'd also recommend you build your own, buying pieces isnt that expensive, and I'd even consider 3 inch with your build. I run three inch duals on all of mine, including my truck.
As far as mig versus torch, I wholeheartedly recommend using a torch first if you are learning to weld. Once you learn to manage heat, you can weld with any other type of welder. plus you have a torch for heating stuck things later
Another option would be to take a welding course if you do not know how to weld, and buy a cheap Mig and chop saw, it's easy to learn and you can build something very nice
...or of course you could pay the bill and pick it up at the end of the day, there is something good about that too!
I would consider 3 inch though for a hot stroker FE if it is doable and then hold him to very high standards. I think the cost isn;t unreasonable, it'll take a full day to do it all, he is adding flanges to section it so you can drop it, and I assume the x-pipe and mufflers are included?
It's not cheap, but the guy has to make money and if its nice, it'll only be uncomfortable to you once.