Correct me if I'm wrong, but a Catalytic converter is NOT a "Soot Trap". Three way cats don't trap soot at all. The first stage is The Reduction Catalyst
It uses platinum and rhodium to help reduce the NOx emissions. When an NO or NO2 molecule contacts the catalyst, the catalyst rips the nitrogen atom out of the molecule and holds on to it, freeing the oxygen in the form of O2. The nitrogen atoms bond with other nitrogen atoms that are also stuck to the catalyst, forming N2. For example:
2NO => N2 + O2 or 2NO2 => N2 + 2O2
The Second Stage:
The Oxidization Catalyst
The oxidation catalyst is the second stage of the catalytic converter. It reduces the unburned hydrocarbons and carbon monoxide by burning (oxidizing) them over a platinum and palladium catalyst. This catalyst aids the reaction of the CO and hydrocarbons with the remaining oxygen in the exhaust gas. For example:
2CO + O2 => 2CO2
The Control System
The third stage is a control system that monitors the exhaust stream, and uses this information to control the fuel injection system. There is an oxygen sensor mounted upstream of the catalytic converter, meaning it is closer to the engine than the converter is. This sensor tells the engine computer how much oxygen is in the exhaust. The engine computer can increase or decrease the amount of oxygen in the exhaust by adjusting the air-to-fuel ratio. This control scheme allows the engine computer to make sure that the engine is running at close to the stoichiometric point, and also to make sure that there is enough oxygen in the exhaust to allow the oxidization catalyst to burn the unburned hydrocarbons and CO.
So as we can see, there is nothing "trapped" in the cats. It merely converts bad stuff to not so bad stuff. New EPA Laws do call for the afforementioned Soot Trap -IIRC, it's called a PM (Particulate Matter) Trap. That will be in addition to the catalytic converter(s).
I can't remember when the Catalytic Converter laws wents into effect, but Iw ant to say late 60's early 70's. So chances are, his 7.3 does have a catalytic converter on it. I could ask my friend google, but lunch is almost ready.
Source:
http://auto.howstuffworks.com/catalytic-converter2.htm