Yep… Dunno that I'd bother wrecking the catalytic converter just for the “Sound”  I did a bit of research earlier in the year and ended up with a Staintune exhaust on my '03 S which not only sounds way meatier than standard and gives better midrange.  I still haven't chipped it but maybe that'll be my next present to myself.  Problem with the Staintune is cost!!! $2460 but the quality and finish is superb.  After fitting it I was told by a former Beemer tech that you can import the Van der linde system which comes with a chip for under $2K.  Bottom line is that your beemer is a class bit of kit and deserves something that was designed for it not the hack and hope approach.  Good luck either way but Henry at Experience would probably have a better idea than most.