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Ok, do a bit more searching on the way the V10 sounds, you will find that what you are thinking of doing will sound like crap and if you take out the cat, will sound like louder crap. The V10 just about needs the cat to sound remotely like a truck, you take it off, it sounds like a rice burner only weird. Its a hard sound to explain, but it just doesn't sound good.
The best thing you can do for a V10 is chambers. By chambers, I mean Flowmasters, large body units, like the 50 series. Someone on this forum has a modified 70 series that sounds pretty good. But you need the chambers so that the tone can get deeper. Any kind of glasspack or straight through muffler will make it sound high pitched and whiney. And the cat is your fried here, because it is large and kinda does the same thing too.
Yeah, I actually have a Flowmaster on it now. I am not sure what model but it ia a single chamber that splits into duals. It actually sounds good now it is just super quiet.