It's a one wire. heater will be no problem. BobC, have you encountered the problem before?
Well it's not something I've played around with, but have a look at these nifty graphs of the different types of O2 sensor output:
Since the computer keeps track of "cross counts" (i.e. the number of time the O2 signal goes from above to below 0.45v per second), if you try to send a Wb output you'll get a much "smoother" O2 signal and your cross-count level may drop substantially (to the point where it sets a code in the computer because it thinks that the O2 sensor is "lazy" and needs to be replaced).
However to answer your question directly, no I haven't tried it.
From my experience, placing the wideband sensor before the turbo is too hot and will shorten the sensor life. Most recommend placing it around 3 feet (one meter) after the turbo for best lifespan, but the response time is slow and it won't update to the ecu fast enough to track AF ratio accurately, and you'll see the AF ratio swing too lean/too rich before the ecu sees it and adjusts back the other way. A good compromise is to place it around 12" (25cm) after the turbo.