Correct. New wideband o2 sensor replaces oem narrowband o2 sensor. Kit comes with the plug to cap off the ecu o2 sensor wire.
What intake and exhaust do you have? For the stock Rocket, Dobek recommends for A/F targets:
GRN 13
YEL 13
RED 12.6
GRN/BLU 13
YEL/BLU 11.8
RED/BLU 12.7
What do you use for your setup?