Yes it does. Although it does flow very well for a catted factory exhaust, you don't get much sound out of it. I went with the Pypes O/R H and OMG did it change the way the Flows growl/scream!!!!! I can feel the exhaust rumble beneath my feetFor awhile I had the O/R H and stock mufflers which didn't sound bad either.
I was wondering if there would be a sound difference, but it looks like the catalytic converters are welded to the pipe. I think I'll leave well enough alone.
Thanks for the input.