I think you're being a little too cautious about the y-pipe. It looks brand new to me, and it's a newer model, because the one that I got used (and mounted) didn't look that clean when I got it, and mine came from a friend of mine. Anyways, I think the weld on the short pipe is normal, because I don't think you can get such a short, 90 degree bend without some cutting and welding. Also, the slight bump from the mating and welding of the pipes is nothing in comparison to the factory y-pipe, and how the two head pipes crush down into each other to meet as one.
Besides, 200 bucks for a 400 dollar pipe is pretty good. Is it SS?