O2 sensor Broken?E30

["The BOV! what?" <flammingtwat@xxxxxxxxxxx>]

My check engine light came on a few weeks ago and the mechanic thinks it is 
the Oxygen sensor. He says that if you just turn the key enough for the 
power to come on but the car not to start that the check engine light will 
blink. The # of times it blinks tells you what is wrong. My Check engine 
light blinks twice and then stays on. If anyone else has heard of this, your 
expererince would be appreciated. Also if it is the O2 sensor what are the 
side effects of driving around with it broken? How much will it cost to 
replace? What problems should i look for if it is broken? thank you for your 
time,

Jason
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