Installation instructions give the optimal placement for proper readings. Best way is to add a bung. To install wiring there's a grommet on passenger side at foot location, pull carpet back and you'll see it. Please use the search, there's lots n lots of write ups on this...
You have headers? Also, if you don't have the ability to tune, removing the O2 sensor (either one) will cause issues.
You'll be able to. I've got my AEM wideband, boost gauge, 4ga power wire and a couple other little things going through. Just make sure to feed the smallest end of whatever you need to put through.