Thanks for the feedback guys, but I think I'll live with the exhaust the way it came from the factory. It's really not very loud just driving around at light throttle. But when you put your foot into it, the beast from within wakes up and unquestionably ASSERTS itself!
My sensitive but aged hearing tells me that the exhaust sound of the stock C5 Z06 is actually a little louder (deeper) than the new Z. This surprises me because of the different diameters of the exhaust systems and how much more of a deep breather the LS7 is over the LS6.
Has anyone else notice the stock exhaust on the new Z has a decel burble? It's kind of a very subdued whistling effect and you really have to listen for it. Must be a result of the butterfly valves closing when you lift and the sudden build of backpressure in the mufflers. Sounds kind of cool to me so I don't think I'm going to mess with pulling the fuse afterall.
The switch idea is probably a good compromise, but I LIKE the stock sound good enough as is. It seems just about right under hard acceleration, but not at all intrusive otherwise. Basically it is the best of both worlds.