I just got a 2001 SVT cobra, and yesterday it threw a CEL. So I took it to a autozone to get a scan and it is throwing a P0420 DTC. It has a magnaflow exhaust. This is the description from the scan:

THE PCM HAS DETERMINED THAT THE CATALYST SYTEM EFFICIENCY FOR BANK 1 IS BELOW THRESHOLD FOR THE CURRENT ENGINE OPERATING CONDITIONS.

Im getting it checked out Monday.

The engine doesnt seem to be acting up, however Im not exactly sure whats going on. Any idea whats up? Should i be concerned with this code?