I'm running the Innovate X-16 / LC-1. If I had a do over I would be looking at the Koso dual that does O2 & EGT in one. Innnovate has been fairly trouble free, good idea to do some waterproofing on the bezel as it will get some moisture exposure no matter where you put it. It can be as simple as a plastic baggy around it, or the clear vinyl that goes over your Moto-X chest protector #, or even a marine grade enclosure, what ever your into.
My first O2 went on our 07 D7 in January of 07 with a N2o kit. It got sparatic last year so I replaced the sensor which didn't change a thing (I think the issue was moisture related in the gauge as stated above) I'm still running that old sensor in my 08 TD8. Had to call Innovate and reset the gauge. I have heard the stories of auotmotive sensors for cheap at Napa, Schucks, etc. but I have never looked to far into it since they have lasted pretty well.
As far as sensor placement, Innovate, Boondockers, and SLP all said in the 10 - 2 o'clock position in the stinger on non-turbo and same thing post turbo or in the down pipe when running boost. Just did what I was told and so far so good. EW