Hey,
I doubt that a bad 02 sensor would rob the car of HP. My 02 is shot and needs replacement. I have had to drive it to the mechanic's and to work and it still feels normal (though I've not redlined it or pushed it hard). It would have been in 'prevent' mode already for me I'm sure. Might be something else, but I don't know what. Perhaps someone else will chime in.
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1984 - 944 - The first one.
1984 - 928S - The loudest one.
2001 - Boxster - The best one.
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