My car has 60k miles on it and i think it still has the origional o2 sensor on it. Would i notice any change in performance by replacing it?

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1991 Z28 305 5spd 1LE, TES headers, dual cats, 3 Chamber flowmaster, Comp cams .488/.495 212/218 the usual street racer with a stock chip.
Cars beaten as of 01/01/01
95 Acura Legend

Lost to as of 01/01/01
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I say you should repace it. Its not too hard to do or too expensive to replace. Most OEM O2 sensors on GM cars are due to be changed after 30-40K miles.

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1987 Chevy Camaro IROC-Z
L98 TPI 350 (5.7L)
TH 700R-4 Transmission
Borg Warner 7.75" 9 Bolt Rear End

Current Mods: LT4 Hot Cam, Comp Cams 1.52:1 Roller Rocker Arms, Edelbrock TES 1 5/8" Headers, Hooker 3" Aerochamber Cat-Back System, Performance Resource Chip, Accel Ignition Coil, Cap, Rotor, 8.8mm Wires, K&N Filters, JET TPI Air Foil, All Free Mods, Falken ZIEX Z-Rated Tires.

Best ET (w/o LT4 cam): 14.32 @ 97.7mph
(corrected for elevation)

7.5" 10 Bolt with 3.42s soon to come!