Quoting turbowop:
Personally, I think this day in age with the better tuning tools we have, the EGT isn't needed. My probe is mounted in the #1 runner, but when I swap to my FP manifold, I'll be moving it to the downpipe so that I don't have to drill a hole in the mani or heatshield. I never use it anymore anyway, so if anything, it's just to have a matching and working gauge in the interior. Even in the downpipe, just look for consistent temps.
All I look at for gauges anymore are quick glances at boost or wideband. Even then, pulls happen too fast to get any real info, so I just do logs and study them afterwards.
I did pretty much the same thing. Ran it on #1 for a long time (on the thickest part of the runner). I've since put it just past the o2 sensor because i didn't want to drill into the FP manifold. It's in place probably more for nostalgia/sentimental purposes than anything else. If i want to get rid of it, i can just weld the hole shut when i remove it. At least the peak feature is somewhat handy, although i'm not sure how much it's going to tell me that far from the exhaust port. It may indicate if timing got pulled or things got really hot, but it's not all that useful.