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Well if it ends up not being under warranty they will charge you for diagnosis (generally most shops charge either 1/2 hour or 1 hour for diagnosis, most shops labor rates are generally between $90 and $110 per hour, maybe more, maybe less depending on the area) since I don't know of anyone that works for free.
I'm no expert though but it seems unlikely that it would need both a catalytic converter and a o2 sensor. A lot of times when the catalytic converter fails the code set will be for catalyst inefficiency. In that case usually you just need to replace the catalytic converter and the o2 is fine. But the thing about trouble codes is that they note that there is a problem, but the thing that set the code may not necessarily be the problem. There are a lot of times the thing that set the code is the problem but not always. That's where a lot of shops that indiscriminately throw parts at cars run into problems, and being able to figure out the difference between those cases is what separates a good mechanic from a bad one.
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