I'm wondering why there is such a desire to get rid of the o2 sensor. My viewpoint is quite the opposite. When I fitted custom megaphones to my bike I made a point of re-installing the o2 sensors. Maybe its a case of people not knowing exactly what benefit they bring.
There are a couple of reasons why they're fitted and I'm not going to worry about wide band vs. narrow band sensors. The first reason is to fine tune the air fuel ratio at steady state throttle openings. This is called closed loop operation. There is an information loop between the ECU and the o2 sensor - the sensor reports the o2 level to the ECU and the ECU makes an adjustment to the fueling (to achieve the target ratio programmed into the ECU), the o2 sensor reports the change and so it goes on. The moment you open the throttle the ECU changes to open loop operation. It ignores the output of the o2 sensor and uses its internal fuel maps to adjust fueling (and values from other sensors). The difference between a wide and narrow band sensor is a narrow band really only says to rich or to lean whereas a wide band can report the actual o2 value. At steady state cruising the ECU has much better control over the AFR with an o2 sensor.
The other use is with a catalytic converter. In this situation you have two o2 sensors one before and one after the catalytic converter. The primary sensor in front performs the role described above, the secondary sensor is only there to ensure the catalytic converter is working by comparing the value of the primary sensor to the secondary. If you want to remove the catalytic converter and avoid an engine light this is when people substitute the secondary sensor for a resistor - since it is merely used to detect the presence of a working catalytic converter the value can be fixed by a resistor without harm.
The 961 doesn't have a secondary o2 sensor (unless the new Euro4 bikes have them), replacing the o2 sensor with a resistor will do more harm than good! Since the ECU will think it's still connected it will base it's fueling in closed loop operation on fictitious readings! I would strongly suggest people don't replace it with a resistor! There is no reason to remove the o2 sensor when removing the catalytic converter the ECU has no knowledge of the Cat the only error you'll get is if you remove the o2 sensor.