Well, if you think about actual flow capacity, two 2.5" pipes could carry more than one 3" pipe. But "yes", the single shot is lighter weight.
I've had friends with the single shot 3", and I have to say it is the worst sounding exhaust I've ever heard on a Turbo Buick! It's "blatty", and has a horrible resonance inside the car. But then again, it becomes a matter of driver's choice, and your willingness to deal with the sound. I doubt you'd see enough HP gain between either one, to justify one over the other. Sound and appearance would be the dominant decision factors.
I'd go with the 2.5", but that's just my preference.