o2 Cheater, any thoughts???

I have a '95 noma, 135,000 miles, at about 110,000 miles I had the cat removed because the internal cone was cracked and rattling. Ever since then i've had poor gas mileage and my truck has been running shitty. The other day online I read about an (o2 Cheater) supposedly the cheater send all 000's to the computer and makes it run better. The local Ramchargers stocks them for about $80. So my question is, has anyone ever used one of these or done more research???? Any help would be appreciated.