Please man, don't be stupid and gut your cat! Spend the money, don't be a ricer, and get a high-flow cat... you'll get more HP with a high-flow cat than a gutted one, and you wont be doing something that's absolutely fucking horrible for the environment.

And I don't want to hear any whiplash like "All I was asking about is if the check engine light will come on", because you're still doing something that's wrong.