meh loud exhausts are rice-tastic, cheap headers are pointless if you dont spend 300 dollars just for the part its probably some taiwanese mass produced crap. im sure you gain more from the weight reduction of getting rid of that cast iron than you gain from exhaust flow. and if your engine isn't intaking more air than stock and adding more gas you aren't going to get much out of it besides a lot of vibration and cop attention. as far as headers and cats go, how much are you gonna get outta a stock engine? 4-5 hp on a ka?, probably less on a ca20? headers also tend to shift your powerband higher and decrease swirl in the combustion chamber at partial throttle which can reduce torque and efficiency (depending on primary size and length and collector size, the bigger it is the worse it is). in daily driving situations useable torque is more important than a couple extra ponies after 5k rpm. imo not worth the price, have someone braze up your stock cracked headers with an oxyfuel torch or something im sure thats a hell of a lot cheaper. also how hard is it to remove and install an exhaust manifold, its got 8-10 bolts on the head and two on the cat as long as you have a jack and stands and a 12 or 14 mm ratchet you can probably do it assuming that the taiwanese kid who made the headers even drilled the holes correctly.
i would only hollow out my cat if it was poisoned (full of carbon and clogged) and i had no money, the price of a new stock cat is ridiculous, and junkyards in california cant even sell them used legally. although swapping to a cat from a v6 or other big engine is a pretty good idea if you can get a hold of one, but whatif the flange isn't the same then you need to weld. cars with their cats removed (hondas especially) tend to sound really horrible but thats my opinion. trust me you dont wanna grow out of having a loud car and have to go back and spend all your money all over again. im only 20 and im already sick of the noise.
i have a 2.5 inch mandrel bent exhaust with the stock 2 inch cat and an obx loopback muffler on my civic, it sounds awesome and flows well, the best part is its only loud when I open it up so i can pull up next to a cop and not piss myself, yet vtec still rips really hard and loud. here in California modified exhaust is a 900 us dollar ticket and the cop doesn't even have to prove that you even have a modified exhaust you have to prove that you dont to get out of it. besides that your car is gonna smell like ass (or gas however you wanna look at it)
(I really couldn't even imagine a lazy donut-munching cop getting down on his stomache to look under your car to see if you have a cat )
trust me i've driven with open headers and i've driven with no muffler for over a year, it gets old really fast.
sorry that was way too long but you dont have to read it if you dont want.