can't help you much about the power aspect but I am told they are substantially louder. I have seen a couple of Storms with 2-1 set-ups but have never had the chance to talk to the owners. While we are obviously talking about a different engine, you may want to look up info on (Google search) the SP-1/SP-2 as I do recall findign info about this very topic for those bikes.
Good luck
Mikstr
2 INTO 1
A mate of mine has a single pipe on his vtr which he says increases midrange with a little less top end and is slightly louder if this is any help.