I was just wondering what the function of the sensor that is in the water outlet pipe up by the thermostat is. Also, does anyone know if the tps on a street ported motor should be set at the same setting as a stock engine?

 

That sensor tells the ECU how hot the motor is. If its unplugged, it will run super rich all the time. Leave the TPS adjusted to factor specs.

 

If you mean the one on top of the outlet pipe,it is a temperature switch which turns on the electric fan.
The TPS is the major input(along with rpm)for direct control functions in the ecu software(things like decleration fuel cut,secondary air injection,air/fuel ratio corrections based on engine load etc).If you set it any other way than stock you will have driveability problems.