Gutting cats on my cobra. Need feedback.

It would do nothing for you. If anything the extra turbulence would hurt performance. There also won't be any real gains in power from going to an off-road version. Maybe a little sound difference and smelly exhaust. The money would probably be spent better elsewhere, unless the slight sound increase is a must have, IMO.
 
If the h-pipe already has hi-flo cats you won't get much of a gain in sound. if they are original cats then you will get a noticeable gain in sound but probably not much performance. I would opt for leaving them be or getting hi-flo cats unless you know someone who is going to get you stickers for your car. i had no cats when i went to get my car inspected and they wouldn't even go near it. it quite a fine for them. i ended up having to get the hi-flo cats anyway and now i am legal.