Is it worth straight piping a 2005 Toyota Matrix XR 260k+ miles

[Winkyjones]

Hello everyone. I'm new here to the forums. I have a 2005 Toyota Matrix XR automatic 265k+ Miles and still running strong.  Honestly the most reliable and long lasting car I have ever owned.  I've had the car a little over 10 years and have done just about everything to it from new starter, alternator, gaskets, brakes, rotors, coils, belts, ect.  I stay very on top of the oil changes every 3k miles since the engine is getting so old. The main problem I feel I have at this point with my Matrix and its old age is my Catalytic Converter. The main code that the matrix throws off these days in the P0420, Which is basically saying I a new cat.  I was considering just replacing the upstream and downstream O2 sensors, but in pretty sure the main issue is the cat.  The car still runs fine, just struggles a little up hills and often times the engine does not have the accelerate power it used to, im thinking cause the cat is clogged after all these years. That all being said, do you guys feel I should just continue to drive it as is until its toast (I hear you can drive with a bad car for quite sometime and I don't need to pass emmisions tests where I'm from) or straight pipe my exhaust and get more acceleration power out of the car and life out of it in the long run.  Questions and comments welcome please thank you for any tips!