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Your Ride: 1994 740i
True, I can not think of a model that had a square tip on the exhaust... we'll have to see here in a couple hours. Once I get my stow done for the evening I'll pull the car into the warehouse and snap a few shots to do some playin' around with. I've never personally seen a ricer with square tips, always the coffee can. I've seen muscle cars with square exhaust, as well as trucks... but that's been it.
Both look cool, the round keep it "classic looking"
Re: custom exhaust; shop around locally - you'll be surprised at how many shops have pipe benders and can do custom fabs. I found a local shop that had a bender and made me duals (for my "bird") from the headers back for under $200. Note: I highly doubt you'll get stainless for that $$$