It will work but only to an extent. you will never be able to get the most out of your turbo setup unless you have some way to get the AF ratio as close to perfect throughout the powerband. I don't think the narrowbands can read the info fast enough to really help if you have fast spikes rich or lean that you would see with a wideband.

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ah... turbo. I love the turbo, the boost, the speed, the sound.
and its all better when you do it yourself. cheaper too.