If memory serves, Sean Roe did many dyno test with high flows vs. no cats. Only noticed 1-3 HP difference. The only advantage to no cats is extremely cool side sills. I do miss that. The sound with no cats is louder, but raspier. Almost an annoying sound at idle-3,000 RPM, IMO. Kinda rice sounding, god forbid. The high flow cats seemed to smooth the sound out, and deepen at idle-3,000 RPM. 4,000 RPM - redline, it almost sounds identical, awesome. This testing was performed via me, on a '98 GTS with 2.5 Corsa. I say for the money (around $250 for both - Sean Roe), go for the high-flow cats. Unless 1-3 HP and very cool side sills is of major importance.
P.S. - High Flow cats do drop the side sill temps, but those suckers still get extremely hot - during stop & go driving.