So I have a 98 ek hatch with a y7 and no major mods yet. I hope to turbo it over the summer, so I want to get a conversion harness to run obd2 to obd1 and Im gonna get a stock p06 ecu. I will get it chipped but will my car run right with this?

http://www.xenocron.com/stock-p06-ecu-p-163.html
If i get this ecu it says i need a 4 wire o2 sensor. What would happen if I dont get this?

 

The Y7 has a 4 wire primary and secondary O2 stock.