As i posted on your YT, the white 'smoke' is normal, it's because the cats aren't there being very hot and removing the moisture more quickly. (exhaust will run hotter with cats)
As for the sound, bare in mind the first vid is warmer and more in line with the exhaust gasses, however, the same sound is there, but you've literally hit the difference between the sound of an engine, and the sound that an un-catted engine makes. I think it sounds pretty good, but get out there and drive it before you decide on it.
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'04.5 350Z - Very Motordyne.
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