What are the pros and cons of emptying (hollowing out) the catalytic converter on my 2001 Honda Civic?

What are the pros and cons of emptying (hollowing out) the catalytic converter on my 2001 Honda Civic?

Cons,
won't pass emmissions. The last o2 sensor after that cat will be out of range and will get dirty/prompt a CEL/MIL.
pros,
shouldn't effect performance/mpg's.

not a wise thing to do. But it's your vehicle. Cats don't go bad w/o a reason. Gambit of issues that can cause that. One of those issues could be engine condition as a whole. Really best to find out why it went bad.
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EDIT,
first off, you're not increasing exhaust flow. Not even effecting a so called restriction some ppl think happens in a cat in this gen. Those are not restrictive in any way.
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FYI,
since the cat is located after the o2 sensors that the computer uses to control/monitor fuel mixtures, and since the o2 sensor after the cat is only used to see final emmisions, it has no effect on engine performance or mpg's.
and this will in no way "mess up" an ecu/computer. Or "confuse" it. What ever that means.

Cons: it'll mess up your ECU, reduce performance, increase fuel consumption and it fail the an emissions tests.

Pros: None.

Pros.
None whatsoever.

Cons,
It is illegal to do this
It will cause the engine to run poorly
It will cause the engine to use more fuel
You will not pass any emissions test
You will not be able to legally sell the car

Other answers have good info.
http://www.epa.ohio.gov/portals/27/echeck/docs/tamper_law.pdf

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