I have an 84 500 SEL The o2 was original so I replaced it due to pore economy, and replaced the fuel distributer due to it leaking fuel from the regulating piston. I checked the lambda on/off ratio after warm up it was around 87% exhaust was smelling rich.  I adj. it down to 60% but it would just go back to 80+%   If I hold the idle at 2500 RPM lambda will creep up to 90% then settle back and fluctuate between 78-89%.  I am checking this with a crafstman meter that measures cycles.  I checked the voltage at the O2 sensor it was about .80 volts while I was observing 78-89%.  The engine idles rough.  I assumed the fuel distributer (a rebuild) was bad so I sent it back for another, and the same problem exist with on change.  I have sprayed the intake manifold with brakclean to detect vacuum leaks but nothing indicated.  I would very much appreciate any sugestions anyone may have. 
        THANKS
        MACKLTRIDER