Should I do a Cat delete on '75 Duster

I've got a 33,*** mile '75 Duster with a 225 and 3 on the tree. Engine runs great but is gutless due to attempts to meet the upcoming emissions laws. 1975 and older cars are 100% emissions exempt here in California, and my car is the first year to have a catalytic converter. It also happens to suffer a 50hp drop from previous years of the same exact motor.

Could I do a Cat delete and get some of this lost power back? I don't want to invest too much in engine mods, since I eventually want to do a Gen III Hemi swap, but that may be a while. If I'm missing out on a 33% power gain I sure as hell want to get that power back.
Just drive it. Sounds like inflated numbers to me. If nothing in the catylitic system is blocked ,I call BS. Not much gain to be had man. Its a slanty and now you cant pass emmisions.