Honda had to slow some bikes down to meet state requirements, but re-engineering a bike to go slower is not relay Honda thing. so what they did in some cases was bend the stinger on the exhaust.
my muffler tip was bent, I opened it up, but alas, no noticeable difference.
I can only speak about Hobbits here - the bent muffler tip does not restrict the exhaust flow in any way. I've cut open a muffler, and their is a smaller restriction deep inside there - much smaller than a bent exhaust tip.
I also thought that the tip being crimped had a negative affect - up until the day that I cut apart an exhaust and found a smaller pipe inside of it.