Alrighty, so if you all haven't already seen my other thread, I decided to go through with this idea. (cut out resonator, and stick the electric cutout after the cats, but before the muffler)
http://www.sonicownersforum.com/forum/t2055/
It has been about 2-3 weeks now and I am still very pleased with the results.
Here's where I had my Y pipe installed.
I currently don't have a picture of it with the cutout on yet, but I'll try to take a pic of it ASAP. I also have a video that I'll be uploading soon enough of it being turned on and off.
Specs:
Brand: BadlanzHPE
Size: 2.5" (the exhaust shop was able to straight up weld it to my stock pipe without using the 2.0" adapter that came with my cutout.

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Price: $185 for the stainless steel kit shipped to me + $120 in installation fees since I don't have the tools to weld or to get under my car for routing the wiring = $305 total
And of course, I had the resonator cut out to fit this cutout in. With the cutout closed (stock exhaust) I notice little, if any drone from the lack of a resonator while driving. With the cutout opened though, I hear the drone (very loud) once the car is warmed up, and cruising 2K rpm and below. Above 2K rpm, the drone goes away. The cutout also seems to amplify the sound of the turbo spooling, so the car sounds pretty nice IMO when you push it a bit. I heard that a turn down tip will reduce the droning, so I plan on ordering one of those soon to see if it gets rid of the drone.
Performance wise, I noticed a tad more initial turbo lag, but more power once I got higher up in the revs. I've never been on a dyno before so I don't have any numbers atm unfortunately...
Vids:
If you didn't already see the revving video:
Chevy Sonic Exhaust Cutout - YouTube
A vid of driving around with it in a parking garage.
Sonic Exhaust Parking Garage - YouTube
It's fairly loud, but it's not loud enough to set off car alarms. haha
Still working on getting a decent drive by vid so stay tuned for that. ^_^
Hope you all like it!

Let me know if you have any questions!
On a side note, could a moderator change the title of the thread to just "Electric Exhaust Cutout" please?
Thanks.