I don't think the cats are really that suspect to failure on these cars.
Correct me if I'm wrong, but out in AZ you have emissions testing, right? If that's the case, then those little "o2 sensors cats" will not make the car pass emissions, because if the cat is still working improperly.
Seeing how you say the car sometimes sputters and whatnot, that is probably the cause because the engine is misfiring or something like that. Is that the only code you got? On those cars the fuel filter is non-serviceable, so I don't suspect you have any issues with that. I would check the fuel pressure, there's really no way of doing it without a pressure gauge.
Check out page 48:
http://www.nicoclub.com/FSM/Q45/2002_Q4 ... Q45/ec.pdf
Unlike what the FSM says, I would replace the fuel pump before I replaced the fuel pressure regulator. If you don't have a pressure gauge then I'd suggest you just take it to a shop, based on that procedure I wouldn't think it would take more than about an hour. If you don't get the 42psi when you turn the ignition on, I'd replace the pump.
From what I've seen you should be able to get pumps for about $150 and a fuel filter for under $20.