i plan on removing the cat on my 95 Turbo wagon its pretty plugged up, but i know its gonna mess with the 2nd O2 sensor, am i gonna run into any problems with removing as far as engine managment goes, like is the 2nd o2 sensor gonna mess with the A/F ratios majorly?

 

Gutted mine for same reason. Had it cut open and guts removed and welded up. Throws the Check Engine light every so often and shows no code with my generic reader, and I just reset and go on. Even with light on it does not cause problems with mileage, etc. I would say you will be fine.
Some have mentioned using an anti fouling attachment on the second sensor but it would not fit mine, stuck out too far towards transmission tunnel. Have not had a chance to revisit that problem lately but will or put a cat on.
I think you will be fine. Good luck.
Rob

 

will it help a little bit with mileage though?

 

has anyone seen a fuel mileage improvment from removing/punchin out the cat?

 

You probably won't because the exhaust is still small. You'll have a check engine light for the rear O2 sensor unless you gap it. You won't pass emissions if that's something you have to do. You might get more smoke/exhaust out the end, and it will be smellier. I'm running a straight pipe and when I'm driving with my windows down I can smell my exhaust. Later this summer I'll be putting in a high flow cat.

 

i know when i removed the cat on my 91 Shelby Daytona, my fuel mileage went up 2 mpg lol. it should gain a little power though with it gone right?
Now by gaping do you mean adding a spacer..?

 

Maybe a little. Once again, the exhausts on the 850s are small, so you might see a small gain, but you still have a restrictive exhaust. I think I remember noticing a small gain with my cat out a loooong time ago, but it was for like 15 minutes, then I didn't notice it anymore.