pretty much no point at all to this. If you want a performance gain from exhuast work replace it all. A cat bypass was good in the past with restrictive cats, but now aday the the high flow cats provide as much backpressure as a few pipe bends. I would only suggest doing so on a car with bad a cat(s) just to prevent catalyst from clogging up the muffler(s).
I agree, it probably won't make any difference on this vehicle. On larger engines, it definately helps the top end though. It is illegal to do and I wouldn't recommend it but people put a piece of straight pipe inside the Cat and weld it back on so it is not seen for smog checks. But that would be illegal and not something anyone would want to do.
Funny, illegal to remove a device responsible for the current huge amount of NOx emissions destroying the ozone layer, and that is taken from an EPA report done back in 1996. Now ten years after that report you are just now hearing about "lower NOx emissions" in car commericials.
Beyond the destruction of the Earth, removing a cat nowadays does nothing but create a higher pitched exhaust and often raspier (Not in the good way, unless the atypical Civic with a wet fart cannon on it sounds good to you) since it is more a resonator nowadays. Research helmholtz resonance theory if you want to "tune" your exhaust sound.