The biggest restriction in a gas engine's air system (both in and out) is the throttle plate. The gains you see posted with aftermarket exhaust, K&N filters, etc, really only happen when the throttle is wide open. So unless you spend a lot of time at wide open throttle and need more performance there save your money.
It would be worthwile though to use a vacuum gauge to check for signs of a restricted exhaust system. You can get a gauge that screws into the upstream O2 sensor port to test for excess back pressure as well. Much cheaper to test for a restriction than to change the cat because it might be fouled.