I built my analizer about 6 months ago using the info in the Oxy Hackers Guide and with help from both Oxycheq and RC. I'll tell you what, they are all very great sources of information. I talked to Patrick at Oxycheq and asked him a bunch of questions all of which he answered without hesitation, even though I had already purchased all of the parts individually from other places. It's cheaper that way then even the $89 DIY kit, I think I payed about $65 for everything and the most expensive part being the sensor. I also talked to the folks at RC because the wiring schematic on their website, and some of the instructions they have posted arn't correct and they explaned everything to me, again without hesitation. I've compaired the readings from my analizer to the readings of several dive shops name brand units and at the most there may be a .5% differance between the two.
One thing I did learn while building mine is that the unit will "Hunt" for some reading if it's turned on and the sensor is not connected. In other words it just randomly flashes through numbers. I found that to be annoying and the folks at RC said that you could solder a 1 Mohm resister across the contacts on the RCA/headphone jack to zero out the display if the sensor was not connected to the unit. It worked great.
As for the shelf life of the sensor, I was told by RC that it was about 2 years depending on the type of enviroment it was used in. It should be obvious when the sensor is nearing the end of it's useful life because you won't be able to calibrate it to your starting O2% no matter how far you rotate the calibration knob. The sensor is a fuel cell that reacts with O2 to produce a micro voltage for the meter to read. As the sensor begins to wear out it will produce less and less voltage and you won't be able to compensate enough with the calibration knob to get the meter to read correctly at the begining.