I recently completed the Fresh Air Exhaust (FAE) upgrade on our 2007 Malibu V-Ride with floating wedge.
Pros: Our goal was to reduce the engine noise. It 100% accomplishes this goal, we can have a conversation in the boat talking at a normal level at wakeboard speed. Riders can hear the tunes from the Wetsounds better while riding.
Cons: The install was a bit tricker than I thought it would be. If you own a drill press you will be fine, if not find someone that does,(it will go much smoother).
Here are some pictures: