The bad news?? It needs a new catalytic converter. The good news?? It's the ONE converter (out of three) on the car that can probably be replaced with just a universal replacement.
I'll try to get it done in the next few weeks. I'm trying to decide if I want to have just the one replacement welded in or if I want to spend the extra money and get both front catalytic converters replaced.
I'll be talking with the mechanic at work to see what he would suggest. I'm guessing that the stuff that was slightly out of tune on the car (like the spark plugs) have contributed the most to the early breakdown of the catalytic converter. Hopefully once I get this replaced, all of the issues will be resolved.