Well considering that the original exhaust size is 2-2.25", I dont buy the overheating information your buddy gave you. A Y-pipe is what was original in there in the first place. For overheating, I dont think the size of your exhaust will directly cause that. I dont know for sure, but I find it difficult to relate cooling problems to exhaust plumbing unless your manifolds are cracked.
Does your fan shroud have cracks in it? What about getting a new thermostat or a bigger fan or one with more blades. I have been real lucky because I have never had mine run hotter than 190 on a blazing hot day....Blazing here in Colorado is about 95-100...A couple of years ago, my fan shroud cracked at the mounting screws and it fell into the fan. I ended up replacing the fan with one from Checkers that I think has 7 blades on it and my running temp dropped from average 180-185 to a steady 175 all the time. Summer, winter, altitude, non altitude...whenever. It would probably do even better if I put a new shroud on too...lol.
But the point of my ramblings is that I dont think your overheating problem comes from the size of your exhaust. There could be a number of reasons you are overheating. The ones that I might look at first in order are the schroud, fan, thermostat, radiator fluid, water pump, radiator, heater core. I would guess the problem is somewhere there. Flush the system and start there.