I have a LC-1 installed in my car and you can easily change lambda on the sensor to something other than 14.5:1. My car is way out of tune so the leanest my car can go normal cruising is 13:1 but I can set the ratio to 12:1 and the car happily adjusts the fuel up to reach that. I have it set at 14.5:1 right now but seeing as how it can't get that there is no point in me changing it.
Wiring it in the car is pretty simple, just switched power, ground, and the o2 signal wire. I already had all those under my hood so I didn't have to run any wires through the firewall to hook it up.
Won't be long before I have time to install the megasquirt into my car then I can tune it for anything I want to try