yeah, the f7 is prob gonna give you much better peak power than the fmf. like 4cfed said, pipe decisions depend entirely on what kinda powerband you want and where you spend the most of your rev time. remember that the pipe is the base for all the other mods on your bike. if you get a pipe meant for hi revs and top end power, but your other mods are geared for low or mid range (like trail riding) then you're gonna rob yourself of like half your potential.
i'd say for a large peak (but a steep one, w/ not much powerband other than right at the peak) go w/ the f7.
for strong low end (less peak power, but it gets there a lot stronger) go w/ the shearer pipe.
for something better than stock but not necessarily one of the heavy hitters, get the fmf.
another question, what do your buddies ride? what kinda quads are you having to keep up w/?