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"Back to the keys handed to Peter and only Peter...and not the top 12 or the to 100 friends or whatever...this was done for a reason and you shouldn't overlook the importance of this section of Scripture."

If these keys gave the authority to Peter why do these following verses show James as having the final say?

" Acts 15:1-2 1 Some men came down from Judea to Antioch and were teaching the brothers: "Unless you are circumcised, according to the custom taught by Moses, you cannot be saved." 2 This brought Paul and Barnabas into sharp dispute and debate with them. So Paul and Barnabas were appointed, along with some other believers, to go up to Jerusalem to see the apostles and elders about this question. (NIV)

Acts 15:6 6 The apostles and elders met to consider this question. (NIV)

Acts 15:7-8 7 After much discussion, Peter got up and addressed them: "Brothers, you know that some time ago God made a choice among you that the Gentiles might hear from my lips the message of the gospel and believe. 8 God, who knows the heart, showed that he accepted them by giving the Holy Spirit to them, just as he did to us. (NIV)

Acts 15:13 13 When they finished, James spoke up: "Brothers, listen to me. (NIV)

Acts 15:19 19 "It is my judgment, therefore, that we should not make it difficult for the Gentiles who are turning to God. (NIV)

After Peter spoke James made the final decision. The word 'judgement' in verse 19 means authority to govern or rule. Why James instead of Peter?

Either the catholic church is wrong on this, or Peter never read his catechism to see how much power the catholics gave to him.

Which is it?

I don't have the NIV but I do have the Jerusalem Bible, which doesn't use the word "judgement"as your NIV does(Acts15:19) but uses "rule" instead and from the section it is clear to me that James as an Apostle, is just supporting Peter's speech(Acts15:7-11) and not countering his words at all. In my frame of mind it would be similiar to a Cardinal today releasing a statement supportive (and perhaps for clarification ) of a papal document but in this instance of the early church they are together and it is verbal.
I don't see anything different in the way this section of Scripture is and the current manner of Papal consultation within the various secretariats or pontifical councils except for the huge size of the Catholic Church now and the need for structure due to this.