Catalytic Converter
I've been having problems with the catalytic converter in our 2003 Toyota Highlander for a while now. In December of 2011 I decided to bite the bullet and replace it. Seemed like an easy enough part to replace - very accessible - so I decided to try to do it myself to save some money. I also opted for an after market part since the OEM cat costs $600. I got a direct fit model made by Walker (after waiting a long time for it to come off of back order) that has a 5 year warranty for "only" $355. It turned out to be pretty easy to get in and out - the entire process took only a few hours. So far everything's running well - I've been driving it for a few days now and no check engine light. Hopefully this will fix it for good.
Feb 2013 update: The P0420/P0430 codes are back - bummer! The new cat fended off the codes for a little over a year. I guess that wasn't the only problem...