Roadracejunkie

Will all that is in this thread and thousands of others I've tried to read first and ask second, so the first guy that responds with " do a search, I'm gonna go postal."

My question is pretty simple I think.

On my 96 Ex sedan, I am road racing it, and want to chip a OBD1 p28 to use.
With reverting back to obd 1 from my stock obd2a p2p ecu, am I correct in assuming that the P28 obd 1 ecu will only read one O2 sensor? If so, after I use the adapter harness and the P28, can I remove/unplug the after cat. O2 and be o.k. or will it throw codes?
There is no motor swap going on here, I have to retain the pretty much stock Y8 motor for competition, sucks yes, but rules are rules.

Thanks to anyone who answers and helps me out. I hope I can remove the after cat. (we don't run cat.'s in roadracing, but the "downstream" 2nd O2 is what I am refering to.) O2, because it is real close to hitting my shift linkage.

Thanks to:
http://stores.ebay.com/JDMDOHCPOWER
for providing a great ecu with no wait and at a fair price!!!
Thanks, Vince!