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Not necessarily cats going bad. It's just a bunch of the excess fuel and crud the cats are burning off after a hard run. It's not good for the cats to burn off excess fuel since that heats them up quite a bit. I guess that just means for you to not floor it as much. In some states that don't have emissions laws...those people don't have to worry because they take a certain part off of the car
Try refueling with a different brand of gas. To much sulfer is the cause of the bad smell. Often the cheaper the gas, the more sulfer that is in the mixture.