I'd like to add my experince with the LM1, as I'm a new owner and had an issue along with other people who already are using them.
I had a problem right away, first trial drive with the sensor, and it took me taking Klaus and misterblu's valuble advice and move the sensor farther down stream
I have a turbo inline six and with the TEC2, my reg. o2 4 wire was mounted aprox 10" down from the turbo, and I soon found out this is not how you want it with the use of the LM1/bosch.
I continued to get a sensor error after a short few min of driving ( not even under boost yet ) until I moved the sensor to where I now have it @ aprox 36" down.
I drove it hard today doing auto tunes, and I haven't had one prob. .....
Everything is aok now, And I love the meter.
Time to get on to the serious accurate AFR tuning