I'm used to dealing with OBD-2 codes, but I'm a little rusty on what's covered for OBD-1. h:

• A faulty O2 sensor would (I think) log an entirely different code.
Also, fuel mileage would suffer.

• I'd only suspect the ignition wires, distributor and rotor if you had hesitation or stalling issues. :dunno:

• If the code is related to teh fuel system, then I'd check line pressure & injectors first. Use our search engine to pull up the instructions on how to perform each test.

Since the car seems to perform well, I doubt the ignition system is an issue.
Has your gas mileage gone down recently?
Any problems starting?