I debated on the weight factor as well, as on previous sport bikes the exhaust weight was a huge factor. I decided it's not that big a factor on this bike and the looks of the stock exhaust won out over other alternatives. I wasn't big on the meerkat method however. Not particularly free flowing for the work required (lots of contortions around the cuttouts).
After some experimenting, I ended up cutting the box in half down the center. Removed the CAT (weight) and a lot on internal baffling, but kept the nice flow path and radiused inlet and outlet pipes. Then I welded it back together. A little louder (2-3 db), much deeper, and a couple pounds lighter. Not sure which method is easier, but I'm glad I took this path.
Still LOVE the Viking full system, but it costs a bit more than I want to spend on a system that I'm sure works well, sounds better, but still doesn't look as good as stock (to my eye).