Frank, I'm sorry mate, but those wheels scream "Wigger-Lowrider-Wannabe".

They don't suit the Cougar AT ALL, IMHO..

Deep dish wheels are one thing, but incorrect offset, retro-stylr, chrome wheels are another thing all together and are out of place on your car. Your gonna see wheel bearing issues down the road, then you will be pissed.
As for the exhaust, try having them remounted on shorter hangers, so that they sit up higher behind the bumper, add some decent tips and it would help a lot.