I've suspected for a while that the Lambda sensor on my B11 was playing up, but I think I've broken it enough now to properly fault diagnose it

Initially it suffered from surging at low (presumably in closed loop) throttle settings. After a 20 mile continuous 80MPH blast down the A1 the other day it now appears to have gone rich on me.
I thought that I might be able to make some sort of diagnosis using the Lambda mV displayed in GuzziDiag
Using a lap timer I established that initially (60 deg oil temp) it was switching from 100mV to 900mV about every 0.8 seconds. This isn't fast enough for a healthy Lambda sensor (should be 0.3 second ish IIRC) but I might be seeing the refresh rate of GuzziDiag.
Any comments.
However, when it was proper warm I found that when I held the throttle to 3k RPM for 10-15 seconds it stubbornly stayed at 15mV until I released the throttle when it jumped up to 850mV
So I think that means I have a dead/dying O2 sensor, as the ECU thinks the mixture is lean as its seeing a low voltage so enriches things everything up
Does that make sense before U splash out 70 quid on a new one
Cheers
Tris
PS its an 05 bike having done 35k miles on (presumably) the original O2 sensor