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(orignally came over fitted when imported) and has signs of corrosion especially around the weld seams and more so on the flanges to the CAT. Id like to know if it is worth removing and having the tubing replaced with new stainless steel pipes and refitting? Can this even be done/worth it? I've got one myself and paid £300 for it in good condition. The piping is mild steel unfortunately, so does rust and rot. Depending on condition of the silencers I'd get the piping replaced. Any good exhaust place will do this. 
..sounds great on my Beams is got a nice deep rumble and not to noisy 
(it screams at high rpm!) but wondered about the life of the mild steel just like the OP. If it attracts strongly it's mild steel. A magnet can also provide a bit of a guide as to the quality of the stainless used, as there is often a weak pull on a magnet with low grade stainless, presumably due to impurities.