I use a Gold Star exhaust system on my Iron Bullet.
It's louder than stock, but I don't find it objectionable at all, and I've never had anyone complain about it. And I run it without any baffle, straight open. The small baffle is removable, so you can easily have the baffle in or out, whichever way you prefer.
I also have no problems from any reduced backpressure, and have my carb jetted to suit it, and it gives a good performance increase. But the carb jetting must accommodate it, or you will have problems.
One thing that you will notice is that it makes a "chirping sound" when you close the throttle on deceleration, which is a characteristic of the original Gold Star(BSA) system, and they faithfully achieved that sound on this copy. So, it will "chirp" just like a BSA Gold Star DBD34 does, on deceleration.
Some people like that, and others might not like that.
I like my Gold Star exhaust system, and when the time comes to replace it, I'll buy another one.