Bought a 94 conv, runs rough, seems fixable

I just bought a '94 convertible for my wife. It runs OK, but is giving me th "Camshaft Position Sensor" fault that everyone seems to have. Someone put on dual exhaust, and did a good job of it, but one side has a crack at the top of the converter. I think that they're stopped up, judging from the lack of power and poor gas mileage. How should I go about putiing this thing into good working order again?
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Fix the cam shaft sensor. Make sure to use the correct sensor for your MY. There are different sensor designs over the years and they are NOT compatible with each other.

Use the special alignment tool to do the install. Use the correct tool for the sensor. Again, changes in sensor design require the correct tool for the sensor.

IMO, it is silly to ignore the DTC code as the poor performance and poor gas mileage could easily be caused by a bad/misaliged cam sensor.

Once the engine is free of DTC codes (check engine), then move on to the exhaust problems.

Thank you for your reply. I removed all 4 Catalytic Converters (Ford engineers are overachievers). Welded in straight pipes to replace converters. Found out on the lift that someone had Glasspacks on this thing. I think it is louder than before. I went and bought a sensor, and I think I will let my buddies down at the shop do it because it looks like a pain in the you-know-what. I hear some valve rattle and have considered switching to a lighter motor oil, maybe a synthetic.