I used the o2 sensor socket to remove the old sensor using the above method. One note on that, my socket had a 1" fitting not 7/8". Also, If you use a bosch replacement part, your o2 sensor socket probably won't work for the reinstall.
Because the bosch's "stem" is much thicker than the motorcraft's, you can't angle the socket on as much. The socket is just too long, the brake lines get in the way. I had to slip a regular 7/8" wrench horizontally on the sensor, mate it vertically with the open end of a long wrench, and tap on the top of the long wrench. Kinda rigged, but it worked. No clue how I'm going to get it off if it fails again.
So to sum it up, ymmv depending on your socket. Better idea is just to buy the motorcraft part in advance.
