u serious?
Do race bike have straight pipes?
Some do some don't. "Drag Pipes" are straight out no baffles. And the Harley crowd loves no baffles. The engine should be tuned for it though, richer jets likely.
Depends on the kind of racing. Many tracks/racing formulas have decibel limits and so baffles are required for that reason.
Likely your lack of power is not the pipes. You should have baffles as a good citizen IMO. Like these:
http://denniskirk.com/jsp/product_catalog/Product.jsp?skuId=4403538&store=Main&catId=&productId=p4403531&leafCatId=&mmyId= but if you shop around you can find baffle inserts without the fancy name for $25 or less. I've even taken a baffle from an old CB750 pipe, which was about 12 inches long, had 2 ciircles welded on it and slid it into an open exhaust, fixed with a bolt, for a great effect.
Your power loss if its truly that bad is likely a worn out engine, low compression, but could be something less sinister like a locked up spark advance.
PS: Here's some baffles for $5 or so, quick and dirty. Weld two together for length and more back pressure. Fold the little tabs into the exhaust stream more for less noise and more backpressure.
http://www.jcwhitney.com/autoparts/Search?catalogId=10111&storeId=10101&sku=baffle