Built4me thanks for the heads up that the Land Cruiser uses 409 SS for their exhaust system, i didn't know that. If i need to repair my LC exhaust system I've got all my bases covered, I've got a 310 amp tig welder, along with a good stock of 308, and 309 rod. When i was recommending a Stainless steel exhaust system to the OP, i was thinking about a system made out of 304 Stainless steel, it stands up great to salt.
A 304SS system would be great...but expensive. Most of the street rod builders use 304SS because it can be polished and look good with minimal heat issues. It's just expensive. The polished 304SS will discolor a bit near the heads (blue to straw-color) but that gives it character.
The 409SS is common among most auto manufacturers (my 95 Jeep GC and Chrysler T&C both have SS Exhaust from the factory) because it is cheap and resists corrosion. Mind you, it rusts and LOOKS like carbon steel, but once it oxidizes, it maintains the level and the rate slows down. Eventually, the heating/cooling cycles will kill it.
Any vehicle that does not come up to full temperature and driven long enough to burn the moisture out of the oil, exhaust, cat's, differentials, will get "damaged" due to the moisture in the system causing corrosion, whether it's on bearings, inside the exhaust, or on the oil filler cap.
This is why dis-use is harder on a car than mis-use. I have recovered cars that had 20,000 miles on them, only to get them running and have the exhaust fall off, the engine start leaking, hoses rupture, start running very poorly, all because they have sat for so long and the moisture has worked its magic. Once you start heat/cool cycles, things break down quickly and fall apart.
My 59 Studebaker has been through multiple exhaust systems in its life of 101K miles.
My 95 Jeep GC, 98 Chry T&C, 98 Dodge Grand Caravan, 96 Toyota Land Cruiser all have their original factory exhaust. All have lots of miles respectively: 257K, 178K, 201K, 273K
I had a 69 Chevy K1500 that I went through 3-4 exhaust systems in 300K because they were all carbon steel "aluminized" exhaust. They don;t rust on the "aluminized" part, they rust on the weld seams and the joints in the Heat Affected Zone (HAZ) of the welds because the metallurgy is different there.
I would be willing to be on the OP's post about strange holes that the spots where it rusted through are where weld spatter globs landed either inside or outside the exhaust and caused a change in the metallurgy and inviting the corrosion.
When we build pressure vessels or industrial equipment, we have to grind off any arc strikes and fill weld and grind them back smooth again to help prevent some of this. I am not a metallurgist, but someone here can probably tell us why, for real.