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Cuople things. O2 sensors are designed to work around the 14.7:1 not 16:1. 16:1 is a very lean mixture for any car. 14:7 does give the best results for emissions most of the time if the engine is in tip top shape and the design of the heads intake and fuel maps are perfect and the feul used is very pure test feul. This isn't race gas, but its been tested and restested to be pure and exactly the octane rating they put on it. So for a real car to make the power advertised it will run rich under heavy loads, near stoich to lean when in a curising mode. You want the car to go lean at this point to get the higher gas milage numbers everyone likes to see.
So does it work probably, does what he says richens it up all the time. Will it help probably not. Will it decrease your gas milage, yep. Will you gain any power, probably not.
This "device" is pure bull. Stock cars run 14.7:1, not 16.7:1. Besides, all car using standard sensors go open loop at full throttle. In open loop, the O2 sensor is disregarded and the computer uses pre-programmed fuel values. At full throttle the engine will run about 12.5-13.5:1 for max power.
The only thing this device will do (if it does anything at all) is decrease your mileage and foul plugs. It would also make you fail an emissions test. Full throttle performance will be unchanged in any case as the O2 sensor is not used then.
And what makes it specific to corvettes? They think if they slap 'corvette' on the ad people will buy it and at a premium. Of course in this case anything above $0 is a premium. :bs