Mine i.e. on my 300tdi, is in stainless which means fewer replacements, but more importantly it is of a wider bore and only has one silencer box. It does run the full length of the vehicle though and uses existing mounts.
This means that the exhaust gases have less resistance when they want to leave the engine. Easier breathing always helps performance and fuel consumption and you feel it in things like pick up from tickover, and generally easier acceleration. It isn't dramatic, but it just makes it drive a bit more like a car and a bit less like a truck. Without more info I cannot tell if yours is a performance exhaust, but if it only has one silencer then that on its own will be good. But bore size is the real thing. The previous owner may have fitted it simply to stop the ned of the original hitting stuff at tight exit angles, off road.