1900 turbo2 cat removal

[BigDave]

Hi Folks

had my 1990 turbo2 cabriolet for the past seven years, stock original engine( other than K&N element) - 95000 miles, still runs fine.
The mid box is totally shot & blowing.
I am thinking of removing the box & possibly the small cat & replacing with a straight pipe. Is this I good idea?? or will it have knock on effects - bad running - disintegarting rotor tips etc. !!!!
Spoke to a guy the other day with the same car who said he knew a place that would replace both the mid box & the cat with a straight pipe & plumb in the air pump pipe.
I dont want to risk wrecking the engine as I cant afford to shell out for a new lump at the mo\'

Ta for any comments & opinions in advance