Ok guys, I went back through my notes on Engine Masters episodes, I binged watched a BUNCH of them on a "MotorTrend on demand" free trial, and it turns out I remembered wrong......but not too wrong. It was Season 6, Episode 83, "Mandrel- v. Crunch-Bent Exhaust" in case you want to watch it.
Engine details: LS3, 10.7:1, 225/239 113 LSA cam, long tube headers, advertised as 530HP by the builder. All the exhausts except open headers had an "H" pipe.
Tests, all done on an engine dyno at WestTech:
Open headers: 502 Lb-ft @ 5200 rpm, 544 Hp @ 6400 rpm
Crunch bent 2.5" exhaust with Dynomax "Turbo" mufflers: 491 Lb-ft @ 5300 rpm, 534 Hp @ 6300 rpm
Crunch bent 2.5" exhaust with straight through "Magnaflow copy" mufflers: 490 Lb-ft @ 5300 rpm, 535 Hp @ 6300 rpm
Crunch bent 2.5" exhaust with no mufflers: 491 Lb-ft @ 5300 rpm, 537 Hp @ 6400 rpm
Mandrel bent 2.5" exhaust with no mufflers: 494 Lb-ft @ 5300 rpm, 538 Hp @ 6400 rpm
So the 2.5" exhaust does cost power over open headers after all, but worst case is 12 Ft-lb and 9 or 10 Hp, depending on mufflers. Mandrel bent picks up a whole 3 Ft-lb and 1 Hp over crunch bent (ONE horsepower!), and remember, these pipes had bends to get over a stick rear axle.
Put another way, an ugly, muffled, 2.5" crunch bent exhaust lost a maximum of 1.8% from open headers on a 540+ Hp engine. Max torque loss was 2.4%. Not much!