The length of time that you wish to keep and properly maintain the Mitsu will determine the quality of repair - in other words, if she will be your prime mode of transportation for the next 5 years, then, IMO, it will pay to fix it properly..I cannot see wasting any money on the JC Whitney junk..

It is unlikely that I will keep the car more than two years, and it will see only light/back-up duty. Thus, my reluctance to spend "much". The whole exaust system could go, as noted it is 15 years old, but as stainless, it looks solid, the weak link being the flex coupler, this is standard equipmlment, I have never seen before, but I understand it is also used on some Toyota products. Thus the JCW Flex Coupler isn't an "ad hoc patch-up", more an option. The "factory" replacement is to replace the pipe and coupler from the exaust man to the cat. This is a distance of about 3+ feet and has one hanger. The flex piece may be necessary to isolate engine movement from the rest of the exaust, I really don't know why.

Maybe, and I have some reservations, you can try a replacement pipe assembly with the flex from a junk yard from a low mileage Mitsibishi..
Better, however , is to go to a muffler shop and see what they can do for you...
The JC Whitney piece would probably require welding and may not fit and seal anyway..