It all depends on your setup Jacob.
If you have a full 3 inch system already then gutting the stock cat will give you a noticeable increase in bost and therefore hp.
I have consistently have an approx 3psi boost increase between running a cat and not. This has been the same with a couple of different exhaust systems and turbos.
All those flow tests that show no drop in flow from a cat are bogus. yes at the pitiful flow bench flow they are testing theres no flow restriction but try pumping 500cfm thru it and i can guarantee you'll see a restriction. Blind freddy can see that there's not the same cross sectional area in a act as there is in a straight pipe. And even if they get close the frictional surface is orders of magnitude greater.
The short answer is yes you will see some gains, even if only in quicker spool up. How much will depend on how you have set up the rest of your exhaust system.
i should add that it's totally illegal and attracts a hefty fine if you run this setup on the street