I have had good luck with the Skinz Ultra-Q on my M, and did not feel a loss of power from the low-end up to the top. I have also heard Skinz is one of the best in providing a significant weight loss without loosing you power. Speaking with the the guys at skinz about a week ago they are not going to make the 2010 M8 can the same can as the M1000 unless it performs to their liking; should have a better idea after they do some additional testing. I have been a big fan of these guys, and I believe they sell products that flat out work.
I will obviously second the notion that Skinz are top notch people making top of the line products.
A few things to consider with silencers. When a company advertises a hp increase from a silencer it isn't necessarily the silencer causing the increase. Rather it is a mathematical equation of the power to weight ratio you have changed. Basically, dropping weight will free up HP. So hypothetically you may gain 5 and loose 5.
Some cans can loose HP. There is no doubt. Some companies have a standard design that they just make fit onto each particular sled. That is the extent of their design and research. Some people just want loud and there are companies out there that will just sell you loud.
Other companies do extensive testing with flow rates that need to mimic the stock exhaust. I'm not an expert in the field of expansion chamber design, but the technology seems to be changing. Much like we are seeing with Polaris. Manufactures are counting on the silencer to provide some of the back pressure for the pipe. I believe this allows for a more usable power band, but requires the pipe to work more in conjunction with the silencer. Long gone are the days when you could ride with just the pipe and the silencer did nothing more than silence.
A lot of first year silencer design is probably done with a prayer. As consumers we hate it, but some times we are the product testers. As stated, the better companies sit down and really study what role the silencer is playing other than to silence. They do their homework and take their knowledge and send out a product with a 99% probability that it will work great!
As for manufactures putting effort into silencer design, I don't think it is at the top of the to do list. They produce a product that passes epa regulations and works with their motor and pipe design. They do this with the idea that 90% of these silencers are going to be taken off within the first week and end up in bargain bins at next years haydays. It hardly pays to start using titanium and exotic materials and technology to lighten their silencer if it is going to add another 500$ to the cost of your sled. Especially when you will switch out the silencer anyway for half that.
Sorry for the long read. My bad.
Cheers