To be honest, mandrel bends are the easiest way to build any exhaust. All you do is place and fit them how ever you want and cut as much or as little as you need off. My whole exhaust was built from (2) 180 degree bends and (5) 90 degree bends. I cut what ever degrees I needed off and used the straights where I needed straight. I didn't need to use any separate pieces of straight. If that makes sense?
I have a tubing bender and it's not adequate for building exhausts from thin wall tubing (.060"). You can't bend that tight of a radius, the tubing kinks and looks like crap. It doesn't matter how good the bender is, each material wall has a minimum radius, (.060) is around 4.5" to 5" CLR bend. It's tough to build a exhaust in tight places with that large of a bend.
The other option is pie cuts, but that's just a waste of time unless absolutely necessary.
You can see my exhaust here
http://www.xs650.com/forum/showthread.php?t=24757
(not trying to jack this thread, just trying to help.)
As far as finish or material, that's up to you. I used stainless because that's what I build all of my exhausts from, bikes or cars. I have a lot of it on hand. Some of mine were a 2B finish, and some were a #4, I didn't care because it got ceramic coated.
If you're just going to use header wrap, steel would be fine. However, it can and will still rust under there.
Just my .02