True, if you have the stock turbo and wastegate, you will need to modify the wastegate or go to an exterternal wastegate before removing the cat and really going to an open exhaust.
Once you have done that, a 3" cut out at the bottom of the downpipe with an electric exhaust valve works very well. Someone dyno tested the cutout and exhaust valve a while back and saw a 15 hp increase when the valve was opened.
What's neat is you can open and close it anywhere from 0 - 100% from the driver's seat. A single 3" exhaust valve with all wiring and switch is $179.00. Requires a 3" cutout to be welded in the downpipe.
Note: The standard bolts that come on most cutouts are not long enough. They may be usable but it's best to replace them with longer stainless bolts before welding the cutout to the downpipe. It makes mounting the exhaust valve much easier.