Hi Neil,
Not surprised to hear it's the source of so much of your measured backpressure... I've just gone with a simple loop as high as possible beneath the deck, seems to be fine, with no sharp corners to restrict water flow... Not sure where your exhaust discharge is located, but I'd suggest adding a shut-off valve as well, I think there should be one on any boat going offshore, although I can't recall ever having seen one on any boat other than my own... (grin)
I wouldn't go with a Vetus waterlock again, either, I don't like those things at all... When I repowered my boat, I used one initially because of it's space-saving size and configuration, but found it to be woefully undersized for my exhaust run, which isn't particularly long. It would completely refill after shut down, a recipe for disaster. I also think the construction of the Vetus is insufficiently robust for a waterlock, and I've heard of them 'melting' when exposed to superheated water or exhaust... A composite waterlock from a manufacturer like Verna-Lift is a far better way to go, IMHO, you simply have to make the space for them... I'd also recommend tapping in a drain valve from your waterlift to be able to evacuate the standing water completely in prep for heavy weather (or winterizing), if there's any water in your muffler - even with a closed exhaust valve - it's possible for water to back up into the engine in any knockdown close to horizontal...
Evans Starzinger says one of the most common problems they've seen over the years that bluewater cruisers have experienced, is a waterlock due to wet exhaust backing up into the engine... Even if you've never experienced the problem in all your sailing so far, I think you'd want to configure your new system to guard against the possibility as best you can...
Have really enjoyed your pics from Norway and elsewhere, simply awesome, I'd love to get to the Lofotens some day...
Good luck, and best regards,
Jon