Sounds good.
A new muffler it is.
Keep in mind my previous other "direct fit" muffler suggestion earlier in the thread;
Rockauto: They have a closeout on the 91-92 Explorer Walker Quiet-Flow muffler (part #22592) for just $36.79 (regular $67.79) and the converter to muffler pipe (part #43470) for just $11.30 (regular $22). There's always 5% off coupons as well, plus no tax.
That's about $50-60 for a direct fit muffler, with a new pipe from the cat to muffler so you don't have to wrestle with it or bother with whether or not the old pipe fits. Still need a gasket and new clamps.
Otherwise the Thrush and pipe will be hard to beat, probably under $40 all in for muffler, extra pipe, and 3 clamps plus tax.
Plus the hassle of wrestling the old one off the rusted pipes while it's still under the truck. With a hacksaw, you can saw off the muffler by sawing into the pipe ends, but be careful not to saw into the pipe under that. Saw diagonally, making a tab, then pry it up like peeling the muffler pipe off the pipe underneath, and it will eventually break free, even if rusted and crushed from the clamp.