These guys are steering you in the right direction. Any a/f fuel gauge that's designed to work with the factory O2 sensor won't help you much. The factory sensor is accurate at reading the ratio only in a VERY narrow band right around stoichiometric (14.7:1) -- once you get much past a 1/2 point to a point either side of that, they're not designed to accurately measure the change. So, as someone else said, you get lots of lights, but they really won't tell you much.
You need a gauge designed to take it's feed off of a new, separately installed (exh. shop welds in a new bung) wide band sensor. Those sensors can accurately read from around 9:1 to 18:1 - and you'll get a good sense of what your actual a/f is. Alternatively, exhaust gas temperature readings will also give you a good sense of what's going on in the chamber - but you need some data on what acceptable/good/bad readings are, and why. Perhaps my buddy EMW can give us a bit of tutorial on what kind of temps to look for under what conditions. I have some sense of it for turbo-charged diesel engines and 2-strokes, but not for 4-stroke gasoline engines.