Just FYI if you still have the stock cats I would not bypass the smog pump, they'll get hot as ****. Ask me how I know.
If you have an OR pipe you'll be fine tho. There is no appreciable power gain from doing this and I never bothered doing anything with mine except removing all the rear crossover **** on the back of the heads going to it and then running a direct line from the pump to the aftermarket catted pipe I had installed just to be safe.
2000 Mustang GT Steeda #0048
Just because I give you advice, doesn't mean I know more than you. Its just means I've done more stupid ****.