red1100, I have a 93, the same bike.
I have baffless cobras on mine (well, there is a bolt in each one to provide a little bit of backpressure). I got the bike with a stock filter, stock jets and these pipes. Sounded good, but I knew I was lean because of the blued headers. I bought a K&N and Cobra (really DJ in disguise) and after some tinkering got it dialed in. I can tell you the pipes with jet kit/K&N produce more snappiness than the pipes with stock filter/jets. Now, I feel better knowing I'm not running lean. I could care less about performance because it's a cruiser...as long as I can pass on the highway and such, I'm good with it.
Now, I test rode another 93 1100 for a friend of mine. It had stock pipes on it. I HATED the sound. I could hear the motor working over the pipe sound. I could have sworn it wasn't as snappy either.
But, in the end its up to you and whatever your style is. I prefer the loud pipes. My bike also has sentimental value for me, because it was my deceased cousins bike before. So, if you aren't planning on saving up for something fancier and want to stick money into your ride, I say go for it. But, if you're just trying to make it fit the mold of a bike you would rather have, I'd say save up and buy what you really want, because no matter how many mods you do to the shadow, it'll never be what you really want.
BTW, if you keep your eye on ebay, you can score a discontinued cobra heat shield kit that actually goes right up to the heads and covers 99.9% of the part that blues on the drag pipes. Only problem is you'll need to cut the rear cylinder one short and spread both of them apart to get them to fit. As you can see from my signature pic, you can't see the blueing on mine...it was really an eyesore too!
1970 Honda 50 Mini Trail - gone, but not forgotten
1978 Honda 50 Z
1975 Suzuki RV 125
1993 Honda VT 1100
1982 Kawasaki 550 LTD
1968 BSA B44 - sold...
1980 Kawasaki 750 LTD - sold to get the shadow
1973 Honda CB 500 - sold