I thought it messed with the computer if you did this and did funny things like retarding timing and playing with ratios etc to try and compensate for the low readings? No? I'm thinking I would rather have it just work adn be done with itbut that is an option anyway.
The upstream O2 sensor regulates fuel injector pulse width, engine timing, and the fuel mixture. The downstream one is there simply to check for variances pre- and post-cat. If the variances are low, the cat's "bad" and the light goes on.
So, you can drive without cats and not have sims, or drive and reset the sims every so-many miles. Or just put the sims in and not worry about it ever again. As long as your car is in tune you should pass emissions, I believe. Well, I'll find out soon enough.
The O2 sensors do not need to come out to do this. The rear O2 sensors are in the exhaust on each side above and forward of the rear diff. Put your hand up there from underneath and follow the tubing till you feel the sensor. Then follow the wire from that sensor to where the connector is. On mine, the wiring went to the frame rail and took a sharp turn back after mixing with some other wires, so be careful. Once you find the connector, you need to pull up on the lock tab and pull the two halves apart. Plug your new sim into the receiving part (away from the exhaust). That should do it. I then strapped the old and new halves together with electrical tape so hopefuly there would be no visual evidence, and tie-wrapped it as high as I could above other wires in that area.
Got mine from JonB. Half hour job max both sides for the sims alone.