QUOTE(arcticflipper @ Jun 23 2006, 05:28 AM)

On an OEM exhaust system, just before the Y-piece, there's a metal box that the 4 pipes(Headers) go into.
What does this do?
Is it some sort of restriction?
The O2 sensor goes in there too.
What will happen if I cut that box out and extend the headers and connect them to a new Y-piece?
I will also reconnect the O2 Sensor.
You DON'T want to do that -- next step would be buying a new header.
That section you're referring to is the collector. The bike is tuned for its effect (which is the opposite of being a restrictor). It is there to generate power and taking it out to modify it unless you're an expert in building headers would have the bike running like shit, at best.
Here's an overview of how it works:
Two exhaust pipes pair together first, from two cylinders that do not fire at the same time (360 degrees apart here ??). As the exhaust pulse enters the collector, it exerts a negative pressure wave (suction) on the other. That negative pressure wave travels back up the other pipe, and at the time when that cylinder's exhaust valve** and intake valve are both open on the intake stroke (during what is called "overlap"), it has the effect of sucking more air-fuel mixture into that cylinder through its open intake valve while its exhaust valve is still open (but closing), thus getting more charge into the cylinder to be compressed and burned than it would if the header wasn't exerting this effect. The lengths of the pipe to the collector are designed to time this effect. The pairing of the pipes from the other 2 cylinders does the same. Typically, this effect has max effect in certain parts of the RPM range, and other things such as ignition and valve timing, fuel mixture (jetting or mapping), etc. must be tuned for optimum results. If it's only a 4-1 collector (all 4 down tubes mate simultaneously in one collector), the peak effect in the target part of the RPM range might be optimized, but usually at the expense of bigger flat spots elsewhere in the RPM range. To avoid bigger flatspots (typically in mid range RPMs), in a 4-2-1 arrangement after the first two pairings meet in a collector, you have a second collector that mates those two. That's why it's called a 4-2-1 header (instead of a 4-1), and that second collector exerts the same kind of negative pressure wave (suction) on the pipes upstream, usually resulting in less peak power than a 4-1, but also with less pronounced flat spots in the RPM range. Look closely at your Bird's header, and you'll see that the part of it you've described really has 2 collectors: the first two cylinder pairings, and then the pairing of that result. When it splits back to 2 for sound muffling through 2 cans, it is referred to as a 4-2-1-2 system.
** actually, there are 2 intake and 2 exhaust valves in each cylinder on the Bird, but each pair opens and closes at the same time, so I've used the singular "valve" to illustrate the process.