It's not a good idea to ignore the CEL. A bad O2 sensor may cause your engine to run rich and eventually destroy the catalytic converter (OEM 'cat' is very expensive). You can easily get a free scan from Autozone and the likes and they will even give you a printout of the trouble codes.
The fault code you got is non-existent. A fault code has 4 digits. If you are using the built in diagnostic from the ECM, the long pulses (@ 0.6 second each) is for the FIRST 2 digits while the short pulses (@ 0.3 second each) are for the LAST 2 digits. The long and short pulses are separated by a longer pulse (@ 0.9 sec). Check this link which is available in the 'sticky' for Maxima/I30/I35 FAQ.
http://vbxmaxima.8m.com/ecu.html
You may have a vacuum leak since the engine stalls on acceleration. Check your vacuum connections (spray vacuum fitting with carburetor cleaner and listen for engine response.
You said the MAF sensor seems Ok but it could be the one giving you the problem. A failing MAF sensor can give you all sorts of problems. Use a zero-residue contact cleaner to clean the sensing element as well as connector pins. DO NOT TOUCH THE MAF SENSING ELEMENT. Apply dielectric grease on the connector. You can also use the CRC MAF Cleaner, also available from Autozone.
The problem could be due to other things so it would be better to have it scanned to obtain the fault code.