Sorry SkylineDave but, with respect, you are incorrect. As Trevz quite correctly states, by removing the obstruction in any exhaust pipe, any engine will breathe more easily and therefore produce more power. In Guernsey, moped type bikes are sold to 14 year olds for road use and are restricted to 30mph by placing a washer in the exhaust at the manifold thereby reducing the airflow through the engine. Take the washer away and it will do 40mph. Simple.
A Catalyst works in an identical way. Remove the obstruction and maximum boost will increase by 2-3psi. On any non-turbo car, petrol or Diesel, performance will be improved without cats also, or if you drive sensibly, a fuel saving is to be had.
Other advantages are an improvement in torque, quicker spool-up of the turbo's and as mentioned by Trevz there is less likelihood of setting fire to the scenery when parking off-road. There will however be no noticeable increase in noise as the turbo's, in recycling all of that waste energy into usable power, makes the turbo motor an inherently quiet engine.
You mention 'boost jets, or a manual/electronic boost controller' as the only way to increase boost. Don't know what boost jets are as i'm old school, but I can assure you there are many ways to increase boost charge pressure including ram air, intercooling, NOX injection, tuned inlet and outlet manifolds, bigger turbo's, bigger valves, more valves and a host of other methods. However the cheapest and simplest single measure any engine can benefit from is an unrestricted exhaust, and by removing the cats, you have created a bigger hole for the exhaust gases to disappear through.
For the smoke issue re-read my post above. This is my experience and without meaning to offend I hope this helps readers.
GSY300