To me side pipes are just part of the cool factor of a Cobra.
Are they loud ? Yes. Are they hot as hell and a danger without heat shields ? Yes
My car isn't at the running stage yet but I understand the new MK5 pipes are a little quieter than the old ones.
I'll wear my ear plugs or noise canceling air pods.
My hearing has been damaged I'm sure from kart racing, being around my dad's sprint cars and racing motorcycles.

I will say that AAron's pipes that he built are the coolest thing I've seen, if I was talented as a fabricator as he is I might try that one myself.