i have a 98 cv PI... i was wondering if i cut the exhaust after the mufflers if it would do anything as far as HP wise??

I'd think the gain would be very minimal if at all but others would surely know more.

I can see no benefit to removing the exhaust behind the mufflers on a CVPI. If anything, you'll probably actually hurt rear wheel horsepower by cutting the exhaust off. If you want to increase performance,I'd recommend you purchase some new higher flowing mufflers to replace the stockers. Let's be honest here though, the only real gains you're likely to see even then are going to be 3-4 horsepower at best. It'll sound better though!