I had my cat converter replaced with a Y-piece about 6 months ago and it improved my bike's performance hugely (R1150 GSA).
There's way more low down grunt, but it felt like there was improved performance through the whole range, and sounds better to boot. The bike does probably need a retune as it occasionally backfires when you blip the throttle (which is handy for announcing your arrival).
It would make sense that the pipes would be hotter, but is this necessarily a bad thing?
Fuel economy is also slightly better, but only if you don't blip the throttle too often, which I'm prone to doing these days.
And reducing your bike's weight by half a ton, which is roughly what that cat converter weighs, is also not a bad thing.