The in and out on the Smithys maybe 2" but have you cast your eye down inside? They are quite a chunk smaller in there. I'd imagine the flow is awfull. In his huge amount of testing, Flat Dog (may he rest in the sound of flatmotors) stated that smithys were no good for performance. Having looked inside, I can see why.
As for pipe size, the accepted size is 1 3/4", on a stocker that's fine. Start going up in breathing ability, your gonna need a bit bigger. 2" would do most engines, anything bigger than about 2 1/2" is to big mostly. There is an optimum pipe size, that relates to breathing ability, for optimum exhaust gas speed, for good scavenging. To big, and the gas speed is to slow, to small, and the gas speed is to fast.
Just edited this in, blown engines are different, the exhaust can be infinitely big, with no loss in power.
Of course most of this is nonsense, when hung off the back of a Flathead with any of the stock or off the shelf exhaust manifolds or headers. They are all way, way to short for 90% of the flatheads out there. And the stock ports are stupidly angled on the ends, they don't point anywhere near the same direction as the headers. Far to many "reflected" pressure and gas and sound waves, for the exhaust slug to deal with before you can even think about a "tuned" header/exhaust system.
If you haven't read John's book (JWL) you'd probably be amazed how much power (on an honest dynomometer) is released when you pull of the stock manifolds and replaced it with off the shelf headers and twin pipes.
Moral of all this waffle,
Stick on 1 3/4" or 2", you won't make a damn difference on a stock to fairly warm flathead, just sound slightly different twix the two.
Martin.