The TDC sensor bracket on my 89 300TE is very loose which allowed it to rattle around and caused the sensor to break. This is the one that mounts above the crankshaft correct?

I read a few posts that sound like this sensor does not really do anything and is not needed....Is this true?

Getting to the bolt that holds this bracket on seems like a pain, the bolt is behind bracket from another part. Does anyone know how much I will need to disassemble to get to this one small piece?