You can drop that rear muffler completely but an exhaust shop will have to fabricate a pipe for you and/or a pipe with a nice tip on it to take up from where you delete the rear muffler.
No easy and affordable bolt on options for the pre-86.5 cars...
James
78 Silver / Black-white #295
84 Ruby Red / Black AO84
88 Dark Blue / Linen-Black
92 Polar Silver / Dark Blue 92EURO
93 Arrow Blue / Black