I think I paid about twice that for the Magnaflow, $90 or so. I just didnt want to have to worry about it ever again. The old "get what you pay for" I guess. On a tighter budget an aluminized muffler like the Dynomax is probably a safe choice. You wont hate the sound, at least I doubt it....
I TOTALLY agree with Ramrod, ive ran a lot of these trucks with many different configurations, by far the most noticeable exhaust mod was a header. My advice is buy a muffler based on sound....not claims of power. I personally liked the sound of the Dynomax but it started showing signs of rust after a year and I lived in new mexico at the time......you dont get a much drier climate than that....... which brings me back to my ramble above......