that part number is for the o2 sensor for the Californa ONLY civic vx, a 4 wire o2 sensor, not the 5 wire wide band sensor, so unless you have the Californa modle of VX that sensor will not work and will not let your car go in to lean burn.
From what I can figure out the origonal o2 sensor lasts about 200,000 miles or slightly more then 10 years, so in my eyes it's a worth while part to replace with a NGK (going under a differnt, but simaler name) or simaler high quality sensor.
California model had worse millage (37/45 vs 39/50 according to http://www.fueleconomy.gov) and did not have lean burning mode. If you have a 4 wire sensor, it's probably similar to California model. To convert to 5 wire sensor/lean burn you might have to swap the ECU, although I don't know that for sure.