According to the fitment guide, a "direct fit" magnaflow 93431 is the part for a 79
H/O converter, 49 state except California. $265.21 list price from Magnaflow. Cheaper elsewhere. $205 with their current 20% off sale right now.
$157.53 (plus any tax) shipped from Amazon.
https://www.amazon.com/dp/B000RDI52U/?tag=gbody-20
OR- you can do a Walker direct fit converter. P/N 15502. With the 5% savings discount code, you can buy one from Rockauto.com for $109.00 plus tax and shipping.
You may find it cheaper somewhere else, but probably only a few bucks. It's worth a couple bucks more to get it shipped by a reputable outlet, IMO. If you have any issues...who knows how those other guys would handle it.
Personally, if it's not a mandatory emission check now, some day it may be and then everyone will be scrambling to get a converter. Depends on how long you plan on keeping the car, future plans, etc. You have to make that call. $157 isn't a bad price at all for a new converter. Plus you can breathe easy, maybe literally, knowing that your car is emission compliant and doing its part in not turning Arizona into California. Even if it doesn't need to be compliant.
If you ever run across GM parts for it...
8998692 is the actual catalytic converter p/n.
8999015 is the bead kit for your old converter.
8998484 is the "bottom repair kit" for the converter. WTF?
8998555 is the threadless plug for the bottom.