If you don't shim it with to thick of shims it should be alright I ran my 87 Turbo shimmed with like 5/16" thick spacers which gave me about 12lbs of boost and held it almost all the way up to redline and I ran it that way for a few years with no problems and no change in boost. As for the straight pipe question yeah that should be fine you might want to throw some sort of muffler on the end though otherwise they're pretty damn loud straight piped.
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