My first vehicle was a 1991 Peugeot that my dad drove as a work vehicle untill it barely ran. He said, you can have it for free, if you fix it. Among problems such as a busted waterpump and failing timing belt, it too did not pass emssison for excess NOx.
I ended up getting a used catalytic converter from a parts vehicle. Technically that's illegal for, IMO, silly legal reasons, but it was the trick to getting the car to pass strict MA emissions.
One way to "sort-of" test the catalytic converter is with a high temperature thermometer (2000 deg F).
1) Get the truck nice and hot with a long drive. Keep it running. APPLY THE E-BRAKE, CHOCK THE WHEELS.
2) Put on some good gloves and long sleeves, and get under the truck. Measure the pipe temperature before and after the cat. If the cat is working, then the temperature BEHIND it will be signficantly higher tha the before temp.
3) If you get an increase, then go ahead with the snake-oil and the re-test. If not, then investigate replacing the cat.
What killed the Peugeot's cat was a rich-running engine, dumping unburned fuel into the exhaust. So if you do decide to replace the cat, make sure your engine won't kill the new one.