Awide band lambda sensor is used to sense the air fuel ratio, much like the standard one on your car only much more accurate.
The standard one wil show a voltage of 0-1v to tell the ecu if the engine is rinning rich or lean with stoich being at 0.5v. and because of it's narrow limits will basicly only tell you if the mixture is lean, stoich, or rich.
stoich or stoichometric is when all the air and all the fuel (14.7:1) in the mixture is used in the combustion process with neither having any leftovers in the exhaust gass, i.e. the engine is at it's most effitiant, or so theory would have us beleive, witch is what most modern cars will idle at, although having said that if you wach the voltage it should fluctuate either side of 0.5v, this is to help the cat work to it's best.
Now, a wide band jobbie has a voltage out put of 0-5v so in essence gives you a wider range of mesurable ratio so that you can see exactly what the mixture is, hence why they are used by tuners when mapping an ecu. In my humble opinion anyone setting up an ecu, be it a stand alone, or re-map should use one of these to help them.
well thats as far as i can recall, I'm sure somone will correct my figures.
pete