I don't know for sure, but I don't think so. Without a knock sensor, the computer should get the code for "signal missing or faulty" and the check engine light will come on, but only after you reach 3000 rpm on mostly-open throttle... that is when the computer polls for a signal from the knock sensor. On the na cars, the behavior is then to retard the timing to prevent knocking. I don't know exactly how much the timing gets retarded, but it's very significant, and performance becomes really bad.

Maybe turbos are different, but in my experience a missing knock sensor will cause excessively retarded timing.

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Matt L. -- Cary, NC -- '91 740 wagon