I am installing an 88 engine in my early 85 race car chassis. I already tried the 88 dme and AFM and they worked, ran a little rough but not bad. The O2 sensor is one wire and I believe the 88 O2 has a few more wires. But is the sensor even needed? Can I just ignore it?

 

Not needed.

 

I'm running my 88 without the sensor connected to dme harness, but monitor with the wideband 02. Runs well without, but could use tuning to improve power at certain load/rpm. When driving my a/f ratio is 12.5-13.5:1 (ideal for power and engine safety) but I'm not sure what the FQS on the dme is right now. You can get a WB02 that you can tune and monitor with. If I wanted to, this setup has a wire that will signal the ecm so that the WB02 sensor also operates as a regular o2 to promote proper AFR for emissions.

Watch the 3rd vid at the bottom.
I am really impressed with Innovate's product: http://www.innovatemotorsports.com/r...ing-videos.php

 

Not needed, but if you can keep it, I would...
Otherwise the DME will default to running rich ALL THE TIME, and even a race car isn't at WOT all the time...maybe the "proper" AFR will save you some gas, important if you're an endurance racer

 

The extra wires are for a heating element in the later O2 sensors, but if you just get the signal wires connected it will work fine.

 

Excellent ! Thanks for all the responses . Very helpful!