1 cat or 2

[orionwy2002]

I am getting ready to do a drivetrain swap in my 80K10. I'm putting in a 396/700r4/twin stick 205. They just started doing emissions testing around here and I would like to pass so I can register this thing. My questions are:

1) Should I make a Y pipe and run 1 converter with duals or run true duals and 2 converters?
2)If I run true duals with a crossover, where should the cats and the crossover be in relation to the header collectors?

I was thinking that I would not run mufflers at first and see how it sounds. I can always add mufflers later.

I would have a system bent at a shop around here but that means big$$$. My friend with a similiar truck(85K10 406/sm465/205) just had a Y with 1 cat and 2 flowmasters bent from his collectors back and it was $600 for 2.5". It looks like crap and hangs way too low under the truck.
What do you guys think?