exhaust question (not in exhaust faq)

[sd88supra]

i have an 87 n/a and i wanted to upgrade the exhaust. i was thinking of gutting my cat, sticking with the stock 2.25" piping and putting in a flowmaster 40 muffler. would using the stock piping work well with the n/a? i read in the "exhaust systems researched" thread that 2.25" pipe without a cat is the equivalent to 2.5" with a cat. since i am a starving college student, i wanted to stick with the stock piping since i dont wanna spend too much $$$ on a new custom exhaust. i dont expect a large power gain, but id like my exhaust a little more free-flowing, free up a couple horsies.

as for emissions, ill just throw a cat back on to get it smogged

would there be any issues to look into (engine-wise) when not using a cat?