1) Did you read the instructions for the LM-1/Bosch sensor?
Wide band oxygen sensors – like the one shipped with the LM-1 – are
designed to work with unleaded gasoline. Using them with leaded gasoline will
significantly reduce the lifespan of the sensor. The reduction is directly
proportional to the metal content of the fuel. In most cases, a wide band sensor will provide accurate measurements somewhere between 50 hours and 500 hours with leaded fuel.
2) Did you mount the sensor in the proper position (i.e.-between 10-2 o'clock, NOT in the stock 02 location, etc.)
3) Using a heat sink?
True, that is a short lifespan, however I wouldn't say unusual given the circumstances.