RE: catylatics
The light won't go away by itself. You can do one of three things.
A) get a chip to disable the rear O2 sensors (Dennis should be able to set you up) and leave your cats the way they are.
B) Get the chip and gut your cats. If the rear O2 sensors are disabled, you can gut the cats and you won't have a problem.
C)get high-flow cats. If the rear O2 sensor is behind a high-flow cat, it should eliminate the CE light. If the cats are placed further downstream, you'll still need a chip to take care of the CE light.
you can get O2 simulators that plug into the connector that the rear O2 sensors plug into, so that the computer just sees a "normal" reading from those sensors all the time and doesnt' throw a code. This might be cheaper, if that is your main concern. Me, I would (did actually) get a chip (or a dyno tune, if the tuner knows how to disable the rear O2's) and then gut the cats. Of course, if you have to get your emissions checked, you won't pass with hollow cats (you probably won't pass now, if they're bad) in which case you'll want to get high-flow cats.