High flow cats not only reduce NOx emissions they also help to reduce CO emissions.
It's actually not too bad swapping downpipes on the kappa. I have my first emissions test 7 years after the car is produced, so for my, my first e-test will be in 2015. I will put my stock downpipe back on for that, and will swap out the studs between the turbo and the downpipe for some new ones, and reinstall with some high-temp copper based anti-seize. Been there . . . done that . . . without this stuff, you can pretty much assume you're not getting the nuts off the studs again.