First off, the wonderful sulphuric smell given off by the catalytic converter probably is not due to the cats being old or worn out. That smell usually comes with an over-rich condition, which sometimes will occur briefly while driving in traffic. I wouldn't worry about the cats until they either start making a racket, indicating that they are breaking up, or if there seems to be excessive restriction in the exhaust. If the latter is the case you would notice a dramatic decrease in performance.
There are free-flowing cats available on the aftermarket, such as
Random Technology, but the factory catalytic converters are pretty good to start with.
In answer to your question regarding noise, the cats do quell the exhaust tone almost as much as a muffler.
Hope I helped. Others will chime in shortly.