Oh yeah, almost forgot. I pulled this code a couple of months ago in my car and then freaked out about it.

I was home at the time (New York) and I went to see my trusty mechanic of 8 years. He cleared the code for me and noticed my engine running rough. He determined that I had a bad tank of gas (filled up in Vermont a couple of days before) and that this could trip the p0420 code.
Hasn't been back since and I have put about 3000 miles on the car.
:p