Welcome to the Forum DGWatts! And congradulations on the new ride. There are others here in the forum who know much more than I do so I'll hold back on any specific comments. Mainly because I'm not familiar with the best approach to the new '07 models, maybe it would be the same as the older models but I'm not sure.
What I did on my '05, in stages, was to replace the cat box with the Triumph stainless steel bypass (which I found second hand for $200, new is about $350 - $375) which gave the beast a little more roar. Then changed the stock air filter for the "Under the Tank K&N" style, about $60. Then, just the other day I changed the stock mufflers for the TOR's (Triumph Off Road pipes) and "THAT" made the beast talk. I got the TOR's on sale for about $400 (20% off) but that may not happen (the sale) again.
Many ways to alter the exhaust but the Jars really get folks attention, sound and appearance wise. To take full advantage of them I think you really need to accompany them with a Power Commander III or a Tuneboy, which both are about another $300 to $400.
I'm hoping that a 12 minute tune will set things pretty well for me with the TOR's. I have not found time to ride it yet since the install, just fire it off a time or two for just a second or two the enjoy the new sound.
Good luck in this endeavor.