Indeed, I thought the fault code would move to post cat rather than pre cat, although I'm not sure if there is a code for post cat?
Mes doesn't tell me much about the lambdas on 16v version compared to 8v, would you recommend swapping em back round or just replacing the one that is the suspect?
P0420 is pretty typical for a second lambda fault. On mine, though, it was the cat. (I replaced the lambdas, first, though....)
If you get a live voltage reading from both lambdas, the first -- once the car has warmed up (i.e. is on closed loop...) -- will spike like crazy. However, the second should stay pretty flat. If it's spiking in parallel with the first one, your cat may be frelled... -- although it's worth trying a known-good/new lambda in its place, just in case.
Edit
This is what mine looked like before I replaced the cat...
...and this is what it looks like now...! (It's the bottom two lines, on each screen.)
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