true plug and play!

What's the story with the wideband, is it just for tuning or is it needed to actually run the system?

Strictly speaking Megasquirt doesn't require a wideband for operation, but it's highly recommended. I don't imagine their plug and play kits run any different software/firmware than standard, probably just pre-configured for whatever engine you're buying it for. By that I mean you could likely go into the settings and change to a narrowband or even no sensor, but you'd be liable for any damage to the engine if the tune was off.