They'd likely be somewhat similar. The Trubendz/Mandrel Exhaust Systems has a Magnaflow muffler. I'd say without a doubt looking at the two, you'll get more performance out of the TB/MES one compared to the Magnaflow, for half the cost (even if you option for stainless). The Trubenz/MES uses a straight-through muffler right after the downpipe, whereas the Magnaflow catback uses a muffler with the inlet and the outlet on the same side (so figure, the exhaust needs to make a 180 degree turn).
That said - the TB/MES exhaust will probably be louder - but with the turbo on the car, that'll mellow out much, if not all of the rasp which one would associate with a "ricy" exhaust.
Somewhat related - I have a 2.25" MES downpipe for my Cavalier, and it is built very, very well, and fit great. I've been going back and forth on the idea of getting their catback for the car as that car needs any extra power it can get.