A knock gauge is like an oil pressure guage but it's hooked up to the knock sensor so you can tell if detonation is occuring. Detonation is what kills engines so it's a bad thing.
A wideband is used to tell whether the engine is running rich or lean. It's a tuning aid and will keep you from blowing the engine up. It goes in the exhaust just after the turbo and looks like an O2 sensor with a guage that goes in the the cabin.
where do you get a cheap wideband? all the ones i have seen are like $150 or more.