If you don't get the high flow cart from corksport you will get an exhaust with no cat. I know because when I bought it, they told me it would be a cat back, but it wasn't. Shipping it back to them would have cost me $100+ so I just put it on the car, but if I ever have to get the car inspected I will be in trouble.
If your car is stock, the smaller diameter exhaust will be plenty. You won't get any extra power out of the larger one without a lot of other mods. Definitely get the silencer too, the exhaust is very loud. When my stock muffler broke off I was running with no muffler for several weeks. Without a doubt the car is twice as loud with no cat and the corksport exhaust than it was with the stock cat and no muffler.
On a side note, I got about a 5 mpg bump running the exhaust and no cat....