That's a very common failure point and why I went to a Fulsac true dual exhaust. I had the pipe welded once and it only lasted a month or so. The Fulsac was was cheaper than a new pipe from the dealer.
Mine had a 3" crack at the "Y" exiting the rear cylinder. Didn't get any louder but I could definitely smell a leak somewhere... Didn't want to screw with getting it welded and just went to V&H true duals.... I've talkedto my local dealer and Indy about the problem and they both said it was widespread. Dealer also said it was covered under warranty for replacement.....
Unfortuneately my bike is way out of warranty. Eventualy I will add a set of true duals, most likely VH to go with my slip ons. At this point I have two freinds that replaced their exhaust with Rineharts so I have two sets of pipes to go through before I need to replace the whole thing. The only thing is I hope I can get the nuts off the studs without any problems...
While you are down there looking at that crack on the pipe look at the mounting point just down the pipe. If that mount gets loose it will put stress on that joint, causing it to crack. Mine had less than 5,000 miles and 3 months old when it broke. The person on the assembly line must have omitted torquing the nut on mine, it was gone. Almost 2 years later, 24,000 miles, no crack, no noise. Something to check.
had a dealer tell me that they break alot from too much engine braking. and to check front lower motor mount, that would probly be bad also, and it was. thats what i get fer buying a bike with 45000 miles.
Mine cracked twice also. Once during a trip and became very loud all of a sudden. The other time there was no increase in sound but was discovered during a 95" kit install so I switched to v/h true duals and have had no more problems!