generally i've seen everyone recommend the intake first, the reason being that from a performance standpoint you will not benefit from opening up the exhaust without first allowing the engine to intake more air to begin with. on a stock setup, your biggest point of resistance is the intake side of things. plus, if you're going for a more muscular sound, it will only be enhanced by having a performance intake in addition to a muffler/hi-flow cat. to just get a little more bark, go ahead and do the muffler first. but to juice up bonnie'* bite as well, hit both ends of the spectrum, starting with the intake.
1997 SE w/SLE package
"White curse? I think it'* more like.... WHITE FURY!" - MyLittleBlackBird