Removing cat, what do I do about the O2 sensor then?
 

Well Monte gave me a code for a bad cat thankfully 1 day after my emissions test, next time I test is in about 30 months. I personally want to remove the cat all together, install a u bend delete. I highly doubt the car will still be running in 30 months but the CEL will annoy me if it keeps poping up. How do I go about eleminating the CEL all together.

There are 3 options that I know of:

-o2 simulator / emulator. They run about $50, and you simply unplug the rear o2 sensor, and plug this little box into the harness (it's tiny, not much bigger than a USB thumb drive). Downside is, the one I see most vendors sell only works up to 2003 on monte carlos.
-tune the pcm. Obviously this would not be financially worth it if you were to buy a full vendor tune. Best bet would be to find someone local with a powrtuner and give them $20 to turn the code off. It's literally a 5 minute job.
-buy a spark plug antifouler. You screw your o2 sensor into one end, and then screw the assembly into the o2 sensor hole. It spaces the sensor back a bit, and only has a small hole exposed to the exhaust stream, so only a small amount of exhaust actually gets to the sensor. Upside is, this way is dirt cheap, less than $10. Downside is this could be tight with the factory u bend, and even without it can take a little work. The way I see most people do it is to buy two of them. The first one gets drilled out, then you screw them together, o2 sensor in one end, and the whole assembly screws into the exhaust.

thank you sir. That's all the info I needed.