Well, if you're modelling the roadgoing version which was sold for homologation purposes, the 'as supplied' system was stainless with an EXUP valve in the collector, (where the 4 pipes join into 1).
If you're modelling a race prepped version then either stainless as per box stock, or titanium with any variation on end can material as you wish, can be safely gotten away with as these things were fiddled with for performance, (not so much now as the regs are tighter but bespoke systems by companies like Akroprovic and Termignoni etc are made for specific engine setups and bikes which will never be on the roadgoing version, (unless you have a couple of grand spare when you order the bike).
If doing a factory finish, as if it's fresh out of the box Alclad stainless and a straight spray will be fine.
For heat staining if you wish to add some, you have a choice of Tamiyas good and easy to use set D (looks like a makeup/eyeshadow box with applicator and it's like a brush and pigment system, or using clear orange / yellow / blue airbrushed very sparingly on the hotspots, (Bends and close to cylinder head exit), this method is a tad trickier but can produce excellent results.
Have a look on youtube for exhaust heat staining to get some ideas and I think theres a video of the weathering kit D on Tamiyas own site showing it in use. It's easy to use and works well.
Re cars, I'm not very well up on them as in performance mods but as a former mechanic i do know that standard cars typically come with mild steel exhausts that would be better replicated by humbrol Metalcote Stainless, most of the complete stainless systems for cars i've seen in the past tend to be brushed stainless too rather than highly polished so again, metalcote or maybe a lightly scuffed gloss black base before the alclad? would represent it better.
Chrome is a good one for cars re trim etc.
Heres a few videos of mine showing alclad being sprayed and it's use for trim on a Chevy BelAir I did.