Sounds possible. I would reccomend a new cat regardless. Cats have made huge progress in design and flow extremly well. At the least I would recommend bolting in a new high flow cat. Even better would be buying a cat back kit and a new cat.
You have a throttle body injected motor and I would recommend changing your sensors too as part of a regular matience, like changing your spark plugs. The oxygen sensor I believe is on the driver's side manifold near the bottom of the it. This is what I have seen on '88 truck that I am swaping motors for someone. A new coolant sensor would be good too. It is up on the intake neck to the water neck where the radiator hose exits. It should be to the left of the water neck. A tune-up will help too (plugs, wires, cap, rotor). Try the sensor and tune up before the cat because its a good idea anyways.