I can say it just all depends on where you are as to how loud it is and they state where they measure the dbs at. When I got the 175 running the other day, I was amazed at how quite it was relatively speaking, from the helm, but when I got out and went to the back, it was quite loud at idle and I personally think it sounded kinda crappy. Maybe it was the water in the oil.
I have always preferred a "tuned" exhaust on a car as opposed to open pipes. Just my preference. I am not sure what I'll do but dont have to worry about it right now. The law did mention "modifying" and mine is as close to stock as I can get. I dont know what you are suppose to do.
Also, on the water, unless I am idling, I can not hear much of Reds or Brians boats over my outboard. I find that disappointing!