I would put in a new 02 sensor at the track, and get about 4-5 runs at the track, then on my way home about 5 miles from the track it would throw a code saying the 02 is bad. So less than 10 miles before c116 would kill an 02 sensor. I was buying them at ramchargers @ 6 for $120.
I tried the heated ones and they lasted about 3 times to the track, so for the money, they weren't any better.
I gave up on inaccurate readings from the 02 and sending chips back and forth to be tweaked, and bought a MaxEffort thumbwheel chip.
Oh, sounds like your 02 is busted. Buy them cheap at ramchargers!