I got a fairly stock type setup (i mean the diameter, etc.) - I just went with the shop's recommendation, because I trust the guy. I'm no exhaust expert, but I have heard that the H pipe is better for torque. (And for deeper sound too.)
You said you wanted to save money, is that why you stuck with stock diameter piping? cuz like others said before, if you even went 1/4 inch wider, it would flow so much better and probably give you both ft/lbs and HP. 390 cubic inches is alot of engine pushing out a lot of hot air.
'70 4-bbl. was 10 to 1, and should be duals from the factory! 2-bbl was 8.5, and had a single. Some cheapskates put singles on the 4-bbl, as it was available, for about 2/3 the money! As far as carb and pipe size, stock BB Fords usually obtained 'valve float' at about 5 grand, so the stock sizes were right on! Heavy valve train! You should pick-up power and MPG just with the duals, and more with a K+N element! You'll feel the difference!!
Yeah, this is a 2 bbl, so the compression's not that high. I'm happy with what I had done. It'll work for now anyway.
My 73 Ford had a pair of Flowmasters on it when I got it. The wagon had been upgraded from single to dual exhaust before I got it. The downside was the "drone" that you would get through the cargo floor while driving down the road. The tailpipes ended at the rear bumper with a 90 degree angle on the tip,which just didn't look right. I instead had the tailpipes fixed to where it exited out in the stock locations. I also had a H-pipe added and put in stock mufflers. It was still a little loud so the muffler shop took 2 "shorty" glasspacks and put them between the H-pipe and the mufflers. They were put in backwards, this quieted the car down big time. The glasspacks became a sort of a "resonator". The car still sounds good at idle but at cruising and highway speeds it's quiet.