So seeing as I'm building a racecar. I'll likely be spending most of time in the high rpms (6500-7000rpms) My car currently has no O2's hooked up. Am I running the risk of blowing it? Is there an advantage to removing the signal from the sensors?

 

If I go out and unplug the O2 sensor on my stock Civic, it won't blow up. It'll get shitty gas mileage, but it won't blow. The O2 sensor is used to 'trim' fuel. Additionally, that type of O2 sensor outputs a signal all by itself, so there is no 'removing the signal from the sensor'.

 

True I stated that wrong. I meant removing the signal from the computer. So I know that the o2 only sends a signal from the exhaust so the computer can adjust the mixture accordingly but is it going to make a difference in power output? I.E. am I going add more power or loose power because of the fuel causing a somewhat flooding condition?

 

o2's are useless at WOT. However a wide band 02 is one of the fuel tools required for proper tunning..

 

better way to put it... O2's are typically not used by the ECU under WOT.

OP: since you're building a race car, install a wideband and run it full time.
run the ECU closed loop with wideband as the input. This will prevent overfueling while in the paddock and warming up in the pit, but allow you to see what's happening @WOT while tuning and on the track.

There is zero benifit to removing the signal from the ECU, other than not needing the O2 location, and replacing it if it dies. There is a lot of benifit to leaving it in though.