I have the 8.1 in a 2500HD, 2001 model. The oil consumption issue is maddening. I've had the manifold bolts replaced, ran the "consumption test" - and caught my local dealer overfilling the crankcase so that if there was a problem it would be masked.
My truck has 120,000 miles on it, I've run nothing but MObil 1 5W30 since the firat change. every now and the, mostly in the winter months, it will suck down two quarts in 1500 miles. It's happened probably 5 times in 14 years, and other than colder weather (and I live where it's not cold) there's nothing I can correlate with. I've given up on fixing it.
to some degree, it's a symptom of short pistons and low-tension rings.
With the O2 sensor issue, I'd just unplug ang re-plug each connector several times, including the MAF. The vehicle will default to running a bit rich - becauce it's easier for the cat to clean up HC than NOX. If you see decreased gas mileage, then it's probably real, if not, it's probably intermittent.
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