Now after you get the grounding strap off, double check and make sure that all the rubber hangers are off. And then pull the downpipe (with cat connected). This is what it should look like when pulled. Nothing much really:

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Here are some side by side pictures of the two downpipes (I think you can tell which one is which):
Next step would be to transfer the rubber hangers from the stock cat to the test pipe "metal hangers" (
NOTE: notice the angle of the "metal hanger" and the how the rubber hangers connect to the "metal hangers"):
Once the rubber hangers have been transfered now it's time to start installing the RRE downpipe. DON'T bolt up the test-pipe to the downpipe just yet.
What I did was start at the O2 housing FIRST and then worked my way back (towards the back of the car).
Position the gasket inbetween the O2 housing and downpipe. (I used a little black RTV to make sure I had an air-tight seal)
Now, this was my only "problem" with this downpipe installation. Although, I wouldn't even call it a "problem" because there was a simple fix. You will notice that when you drop the old downpipe from the O2 housing, there are STUDS that are in the O2 housing NOT bolts. So, either you could do the double lock nut trick to get the the studs out, but if you do this you have to take off the heat shield and possibly the actual O2 sensor to get enough room to drop the new bolts down through the O2 housing. Since this seemed like a little more work than I was willing to do, I just re-used the stock nuts that went with the studs (these nuts are re-used when you took off the stock downpipe). The only problem that I had with this was, the weld around the pipe that connected the pipe to the flange, gave me little room to tighten the nut with a socket. So, instead I used an open end wrench and tightened that thing down as much as I could (it gets a little cramped in that small of an area).
:EDIT: Now I have had this downpipe on for quite a few months now and I have had NO issues with that spot at all. I was a little nervous at first but it is holding up great with those stock nuts holding on the downpipe.
Here is a picture of the studs/o2 sensor (see how that shield/O2 sensor could get in the way when putting in those new bolts?):
Also, just for a precaution, I jacked up the end of the downpipe (test-pipe end) so that the flex section wasn't holding the entire rest of the downpipe. I just didn't like the way the end of the downpipe was just "hanging" there so... I put a jack underneath it to support it.
Here are pictures of the stock nuts with the RRE downpipe (You can also see the jack underneath the end of the downpipe):
Now with the O2 housing end tightened down. Move on to the test-pipe end. Now make sure that you place the gaskets in-between the ends of the flanges also for these ends as well. (that's kind of important)