You will lose considerable lower-end torque with 3" pipes on such a mild engine, something 340s never had much of in the first place and even less of with the .484" cam. You'll be much happier with 2.5" or even 2.25" pipes. A lot of people simply put way too much pipe diameter on an engine that doesn't need it. A stock 340 Six Pack only had 2" pipes and ran just fine, Hemis were only 2.25" pipes into the muffler. Hell, a factory 340 A-body bright exhaust tip measures a whopping 1.5" inlet diameter (I just measured an original pair).
The Ultra-Flo mufflers are well-built units, but be warned: they drone like crazy on the highway. They make your eardrums resonate and it's extremely unpleasant. They have that blatty, farty sound outside the car like a glasspack, which some people like, but when the RPM levels out the droning is mind-numbing. Much is made about exhaust technology and flow, but in most cases the muffler will outflow the engine anyhow. I like the sound of a chambered muffler (Flowmaster, Hooker Aero Chamber, Thrush Welded) but again, they drone like crazy. I prefer a reverse-flow muffler such as a Walker DynoMax Super Turbo or even factory-replacement Hemi mufflers. Plenty of flow and nothing obnoxious about them at any RPM while delivering a deep, throaty sound rather than sounding like a kazoo.
If you want the Ultra-Flo, look into AP/Goerlich/whatever they're called this week's X-Celerator line (AP, last I knew). They're essentially the same exact muffler for quite a bit less money. A lot of chains carry the brand for replacement pipes and mufflers, so they should be able to get them. A lot of exhaust shops carry the brand as well. It might save you a considerable amount of money.
For you truck lovers, AP also makes very nice mandrel-bent dual tailpipes to work as a cat-back system with their 1-into-2 X-Celerator muffler. That setup doesn't drone as badly as the flow splits and the muffler is behind the cab. The pipes are a lot less expensive than "name brand" systems with the same quality. I used to sell the heck out of them, considering the aluminized ones were around $80-$100 per pair with stainless not much more.