You are most likely going to see a significant power loss if you cut the cat off. On my '04 I thought a full 3" exhaust with no cats would be perfect...my 0-60 was up to almost 10 seconds...I thought the motor was trashed. Added a hi-flow cat and all was well and went back to normal. Your truck needs back pressure to properly produce power unless you are running some crazy 500hp motor.
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