The stock exhaust has a catalytic converter inside that's why it gets so dang hot. Most aftermarkets don't, therefore they run cooler. I took mine off and to be honest after 1hr of riding I can still put my hand on the exhaust without getting burned.

 

I just fitted a aftermarket pipe to my 04 model..I left mine off and went with the advice of many of the boys here...I took off the heat shield near the right foot and find as the pipe is so close my foot gets very warm! oh well looks hot! lol