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Yes droning is when the exhaust sounds like it's playing a single note at low rpms. Just like a subwoofer playing a test tone. Some people refer to drone as "sounding like a wet fart". It's very irritating when just cruising around at low rpm or idling.
Drone
YouTube - my v6 commodore exhaust
YouTube - Commodore Vx s cruising around Exhaust
No Drone - note that the engine itself is louder then the exhaust at idle/low rpm.
YouTube - VX V6 exhaust in HD
Usually caused by insufficient muffling. Larger diameter exhausts tend to drone more since their resonant frequency is lower therefore they have a tendency to drone at idle/cruising rpms.