exhaust doesnt help a stock motor that much like srothfuss said, but when you start doing mods, you'll get more hp out of your mods because the exhaust system won't be restricting them (heads cam intake etc) if you do these mods w/ stock exhaust, you'll feel more power definately, but the stock exhaust would def restrict you -
Sound is really why most ppl put on exhaust on stock 5.0's - an offroad H pipe will make your car sound way better (and mentally feel faster lol) - makes it sound like it should, and american muscle car!