that looks like it would work out good to me. has good ground clearance/tucks up around things in the chassis.

IMHO..just don't make it to ridge with hangers and don't spread the hangers out to far apart.

hang the pipes/hanger so engine torque/twisting the pipe. ( like a sway bar torsional twisting) does not over stress the hangers or pipe connections.

I have replaced lots of mufflers from welding rod hangers to them and engine torque cracks muff over time with to many making it too ridged for engine torque movement.

engine torque is a whole nother thing with headers, tends to make cheap headers warp/leak. so thick flanges! (light coat of permatex copper rtv and plug injection holes) have always sealed my cheap headers.

try to picture any future R&R of the trans/xfer and the need to R&R the exhaust or try to route it to accommodate R&R trans with out removal.

(kinda sux to have them hang down loose in the way while R&R of trans happens-like it looping under tailend of xfer or blocking trans jack ect.

I have built my pipes in section to un-bolt them front to back and remove pipes from under truck when R&R trans work is needed. buy weld in ball & cone flange connections to unbolt it in pieces.

but the 2.5 into a 3" muff/tail pipe works really well with manifolds or headers. got that on my 89-360 diplomat.

myself I like the magnaflow 99$ muffs. it funny how all my mopar trucks and car have the same exhaust tune/note.

good luck and think ahead on pipe routing.