I'm battling this right now.. MnBoxster has a wicked write up on them here:
http://986forum.com/forums/showthread.php?t=4902&highlight=oxygen+sensors
Granted, this is MUCH more than you really wanted to know about them, but take a read, it's good to know what's happening inside your car.
My take: Replace all four. They work as a set, and if one is going out of spec, they all will be shortly, as they've all been subjected to the same exhaust heats and chemicals.
According to Bosch (according to Jim's post, above), the O2 sensors are supposed to be replaced every 60k (for our heated ones).
As for the MAF, from what I've read, it's been "When it breaks'
Cheers!