It will reduce some weight. Cats are pretty heavy.
There should be a small power increase.
If your box is a 97-99 MY you may get a CEL. Most Spec Boxster drivers tie the sensor out so that it hangs (without dangling) and get copious amounts of Oxygen.
A friend who fields a spec 996 advised that he just added a spacer to the sensor to get it out of the flow of exhaust fumes but allows it to warm up which according to him is important.
I have been looking at bypasses and will pull the trigger soon, I just don't see myself spend $400+ on a pair of tubes. There has to be a cheaper option at a local muffler shop.
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Michael
http://imgur.com/aiZcIk8
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