OBD-II code help

I'm getting a "catalyst inefficiency code bank 2" on my son's 96 Z71 with a 5.7L engine. I was wondering if anybody had a way to actually check to see if the converter is bad or if maybe the O2 sensors may be
causing the code. The converter is an expensive piece and I want to make sure before I replace it that it is the actual problem. Also which side is bank 2, driver's or passenger's???
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If you're checking the code with something like the Auterra (etc etc) scanner, look at the voltage readings coming off the sensors. If the faulty sensor is reading one voltage all the time - chances are the sensor itself is hooped (or the wiring going to it).
Easy to tell which sensor is which - just pull a plug, and see which voltage reading drops to zero!

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Bank 2 is the drives side (I Believe, Ford man here). The side that has #1 piston is bank 1 and the other is bank 2.
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