Pretty much. WB gauges are more complicated (and accurate and meaningful) thatn the much more common and cheap narrow band sensors and gauges. The gauge and sensor driver typically are built to work with a particular model of WB sensor. I'd avoid getting (like I did) the first generation that used a rare, and thus expensive, Honda sensor, and get one of the newer ones that uses the newer more common Bosch sensors.

They are heated, and thus not so sensitive to soot and position in the exhaust stream. You just need to put the bung in after the pipes have all joined to one.
--
I'm JohnMc, and I approved this message.