I think saying cats rob power is far too broad of a statement. As Stu mentioned, every car is different. On an otherwise stock vehicle, I'd say that removing them can free up some power because engineers are gonna design an exhaust to be as small as possible while remaining sufficient. So, removing even a relatively minimal amount of restriction such as a modern cat should show improvement. It won't be anything as drastic as something like switching from manifolds to long tubes, but an improvement nonetheless. On a hot rod that's likely to have a somewhat large exhaust, maybe even oversized for the setup, there's not much gain to be had. If anything, removing them may slightly shift the powerband up a little.
That Flowmaster video doesn't say much other than exemplifying what I just said. For a 318 inch, 250-300 HP motor, that exhaust looked plenty oversized (dual 2.5"?). So adding a couple of equally-oversized "plugs" wasn't gonna change much of anything.
The catalytic converter may not flow as well as a straight pipe. But, if it's big enough, it can be flow plenty well enough to not adversely affect it. It's just like an air filter. A square inch of a standard paper element doesn't flow as much air as a square inch of a cotton gauze "performance" filter. But, stock air filters are generally larger and have so much area due to the pleats and the overall dimensions of the element that they aren't a restriction to what the engine can ingest. Yet, they usually do a better job at filtering than the "performance" filters due to the media itself.