Without looking at mode $06 data, you don't really know how well the o2 sensor is working. It's pass/fail, but if it passed, well, by how much did it do so?
A friend of mine has a '99 Dodge Dakota 3.9L V6. It has about 150K on it. A few months ago I was looking at the mode $06 data on his truck and saw that, while the upstream oxygen sensor had passed the test, it wasn't by very much. I suggested that he replace it before it failed the test.
He replaced the oxygen sensor and the most noticeable change was an improvement in the idle.
Now, I wouldn't have expected this -- my experience with failures of oxygen sensors is on vehicles where the failure of the o2 sensor has no apparent symptoms whatsoever except that the check engine light is on.
Then again, another friend of mine had a 1997 Honda Del Sol with an oxygen sensor failure (heater circuit failure) and he too noticed an improved idle after the oxygen sensor was replaced.
From what I have seen of the pass/fail thresholds in mode $06, they generally seem to be set to allow the oxygen sensor to degrade quite a bit before declaring it bad.
In my 1997 Crown Vic, the sensor's maximum amplitude could drop to as low as 500mV before the ECU set a code for it. They start at around 800 to 900mV when new, and the switchpoint is 450mV.
I've read that an o2 sensor could be considered bad when it's maximum amplitude drops below 700mV.
Another reference says
Quote:
If the sensor’s output voltage never gets higher than 0.60 V and never drops to less than 0.30 V, it needs to be replaced. The same is true if the sensor’s output is sluggish or doesn't change.
http://www.picoauto.com/applications/lambda-sensor.html