No, you definately don't want to ignore that problem. that sensor is responsible for synchronizing the fuel injecters. There are 2 parts to it. the sensor itself is just a plastic piece on top of the unit that is not very expensive or hard to change at all. Sometimes it is damaged by the synchronizer which is the part it's screwed to. That piece can add a lot to the price but it still needs to be taken care of.
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