Leaderboard

Looks right to me.

That replacement piece looks like an old Walker or Maremont aluminized item, they were notorious for crushing the pipe in the manner you see there. Personally that wouldn't sit well with me. I suspect a previous owner was into a shop and that's what they installed instead of leaving the pipe intact & just welding on a new muffler. That's your Cali car?

If that were mine, I'd "tighten" the loose nut(s). Either they actually tighten, and the loose clamp is no longer a problem...or the clamp breaks. If the clamp breaks, you buy a new clamp just like it, tighten it like it should be, and walk away before you screw something up. Welding this is just a waste of money. A proper clamp is all this needs. When you buy a new clamp, be sure to tell the parts dude that you want a "heavy-duty" clamp, not a light-duty clamp. Light-duty clamps are for use with exhaust hangers, they just secure the pipe to the rubber mount. Heavy-duty clamps are intended to crush the outer pipe to the inner pipe to make a gas-tight seal. In other words, you're buying a U-bolt that takes 3/8-16 thread instead of 5/16-18. Significantly stronger.