Stanley
I have had a KC5300 kit for some time.Yes, the LSM11 (Bosch Motorsport) sensor is expensive, but it has a lot more range on the lean side (up to 19:1).
I didn't see the value in knowing how lean the engine was, if it's lean, fix it. I was more interested in how rich the car is running. I purposely set up my Bugspray rich to allow the engine to live!
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I ended up using a cheap VN Commodore single wire Bosch sensor and it works fine. It reads within a minute of the car starting from cold.
I would double check the output reading accuracy of the unit with a wide band sensor on a dyno etc.
I ended up drilling a hole in the rear of the mixture meter box so I could adjust the unit without pulling it apart
I would also recommend looking at this site
http://www.techedge.com.au/
They also have similar style readers but use a wide band sensor
Hope it helps