I had P0430 and P0420 when I bought mine and new cats fixed it right up. It's only six nuts attaching it to the exhaust header and 2 or 3 bolts to the exhaust pipe (no welds), but they were rusted over enough to make it...challenging. I attempted to do it myself but most of the nuts on the header were impossible to get to; they're pressed up against the firewall. I ended up giving up and having a shop do it, and I'm still satisfied with my decision. I bought a pair of Walker cats at $200 a pop and installation was about $500 (maybe less) so if you buy your own you could probably get the one done for half what you were quoted.
Walker 16343
Walker 16344
If you're interested in doing it yourself, crawl underneath and have a look. For other repairs, I'd recommend getting
the Chilton book. It's been pretty invaluable to me. The only downside is it sometimes downplays how difficult a repair is and may not have critical tips. That's what sites like this are for!
I've heard of putting spacers on the downstream oxygen sensors to get rid of the code. That will pull the sensor out of the stream of exhaust so it won't be able to sense as well. There's a thread here somewhere on doing that, though it's likely not legal.
Some food for thought: cats generally don't just go bad. The usual cause of death is the engine running rich. The extra fuel breaks down the cat and it will start performing below threshold, which is what the code is telling you. Since only one side on yours is bad, that hints at leaky or clogged injectors on one bank. Pay attention to and address things like hard starts, rough idle, smoke out of the exhaust, etc. or you could end up paying for the same repair in the future. In my case the biggest culprit was the fuel pressure regulator and fuel damper were leaking copious amounts of fuel out of the vacuum line and into the intake manifold. I'd recommend you pull the vacuum hoses off them and start the engine. If gas starts dripping out after a few minutes, you'll want to replace those as well.
Good luck and let us know how you fare!