As stated before, long pipes can provide improved torque and better power delivery (although designs generally try to avoid tight bends at all cost). However, the design has to be incredibly precise to keep lambda and backpressure levels perfect. Rules don't allow variable geometry exhausts so no mechanical adjustment would be possible. Therefore, in theory the smallest dent or deformation could dramatically change the engine power. Then there is the weight disadvantage. I find it hard to believe the aero advantages could be great enough to overcome the risks, but if I knew what I was talking about perhaps I would be working for one of the F1 teams instead of sitting here writing about them!