Just to add a little more... As far as the ECM is concerned, you are still using the O2 sensors. The "eliminators" you plug in to the wiring harness where the O2's plugged in give a steady electrical resistance telling the ECM that the AF ratio is constant (probably at the 14.7). That way, the PCV can add fuel without the ECM seeing that richer condition and trying to lean it back out.

All that to say the motor doesn't care if the O2 sensors are installed, only the ECM. The eliminators fool the ECM and make it think that they are working whether you leave them in the head pipe or pull them out and install a plug.

 

The PC V runs "open loop" only, the stocker runs "closed loop" and "open loop". A closed loop system needs the O2 sensors and an open loop system does not. This is the same for cars as well as bikes. A PC V simply modifies the stock system to run open loop only.
Disabling the O2's is necessary for the PC V to operate and won't hurt the bike. Removing the O2's from the system will help to keep the O2's in a reusable condition. There are plugs available if you want to remove the sensors.

 

Good tip! I'll be putting that part number in my notes for future reference, although I have Auto-Tune and hope I won't be going back to full-time open-loop.

 

I believe you're getting good feedback so far and can't imagine what might be problematic with the O2-sensor eliminators. I've heard of none in the years I've been following the forums. Your friend may be referring to a lack of flexibility in sensing changes in altitude, humidity, air-temperature, etc. in open-loop mode--but this will not be a problem since the MAP, head-temp, and intake-air-temp sensors in place and functioning with the PCV will provide accurate EFI changes as atmospheric conditions change. The Delphi EFI is an often-misunderstood and unappreciated system, even with the O2 sensors out of service.