Cutout in Downpipe?

[Pete's MX-5]

Howdy folks... I just recently got an 04 Mazdaspeed MX-5 and was wondering if anyone knew if it's possible to put a cutout in the downpipe before the cat without any problems? I come from a musclecar background, and that's one of the cheap upgrades people would do on their Grand Nationals.
I've already ordered the complete FM intake kit, but was wondering if there was something I could do cheaply on the exhaust side for the time being.
Any help is greatly appreciated.

Thanks,
Peter

 

[MiaTurbo]

probably not a great idea unless you have some kind of module to trick the OBD-2 system to see that the second o2 sensor is working..

 

[Pete's MX-5]

What about an O2 simulator on the second sensor?

Peter