Almost sorted out except....
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Then we get to acceleration corrections. You will always see a lag in the ego when you accelerate. It is due to the fact that the mixture changes in the intake port due to fuel being dumped on the walls rather that going into the combustion chamber. You can't compensate for this until it is sensed and it won't be sensed until the fuel/ air mix reaches the ego sensor and the sensor has time to process and average the mix. So there is always going to be lag in the ego, and even jitter at steady state because even in the best prepared engine there is enormous variation from cylinder to cylinder and on consecutive exhausts from the same cylinder. This is averaged out in the ego, but if you average too much you will get a lag in response. There are WB prediction/ corrector algorithms in v2.6 to try to compensate at least to some extent for ego lag.