The first thing it says is this is not a recall, and don't automatically take the car in. It goes on to say that the failure rate on the left OR right catalytic converter is high, and they are extending the warranty on them. If you have already had them replaced, they have a reimbursement program.
Not sure if I should sent it back stating something like, "thanks, but the stock cats have been in a box in the garage since the car was about a year old. I will make you a great deal on them." (IMG:
http://www.frrax.com/rrforum/style_emoticons/default/tongue.gif)