Yes, swap away. It's a good diagnostic technique.

By the way, what are your symptoms? I have what appears to be a lazy (nearly non-active) pre-cat O2 sensor on Bank 1 with no drivability or running issues. Been that way for a long time. P0133 code, and diagnostics says it's running closed loop with fault. At any rate, I've installed a new O2 sensor and swapped MAF's and O2 sensors between banks with no change in the Bank 1 O2 sensor signal. Long range fuel trims are normal. So the problem seems to be something more sublime.

Brett

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1997 S600 sedan