Phil - I've had both of my O2 sensors replaced on my Wing under warranty. In both cases the F1 light was the indicator of a problem and over about a 5 month period the right and then the left one was replaced by my dealer.
It ran fine before, but the mileage was in the low 30's and now is generally in the high 30's
Yep the o2 senors are covered under the Factory Warranty 3 Year unlimited Warranty. If you are over the 3 year factory warranty they are covered under the Federal emisions warranty as they an emission part. Not sure on Hondas but most vehicles are 8 year 80k on emissions. :sw1: :sw1: :sw1:
There was a real problem with some of these senors early on. When I purchased my 2002, one of the O2 sensors went out in less than 1000 miles (FI light came on to indicate which one). Replaced under warranty. The other side O2 sensor went out at around 4000 miles, but I was on a trip and my dealer said it was okay to ride until I got it home. Apparently reverts to a basic setting without the O2 sensor input. On the 2nd one, however, my gas mileage started dropping and was down to around the low 30s before the FI light came on. After it was replaced, mileage went back up to around 40-45 depending upon riding style. 32k miles now and no more problems. All done under warranty.