Your thinking is correct, internet has alot of very good information, and alot of very bad information as well
STFT(short term fuel trim), this is the computer's calculation in real time based on upstream O2 sensor feed back
STFT 0 is the base calculation, +3% means computer is opening the fuel injectors 3% longer that it calculated to get upstream O2 sensor in correct range, this translates as Lean
-3% would mean computer is closing fuel injectors 3% sooner than it calculated to get upstream O2 sensor in correct range, this translates as Rich
LTFT(long term fuel trim) is used to make the computers life a little easier, over time there will be small air leak, lower compression, worn spark plugs, ect....................just general aging of the engine system
LTFT is an average, overtime, of STFT, so computer doesn't have to relearn fuel trims at every start up
With an LTFT of +17% that means computer's STFT has been getting in to the higher + range for awhile
If STFT or LTFT gets above +15% for very long the Lean code would be set
LTFT is ADDED to STFT during the base calculation, thats what its for
So in this case STFT 0 is actually +17 to start with, so STFT +3 means you are actually at +20
O2 sensors can only "see" Oxygen, not fuel
B1S1 is the upstream O2, close to exhaust manifold, its voltage should change VERY fast, sweet spot is .3-.5volts
.1 = lean, high oxygen
.9 = rich, low oxygen
B1S2 is the downstream O2, after Cat converters, the Cat converter should burn up most of the Oxygen cleaning up the exhaust, so this sensor should be steady at .7-.8volts, it will drop suddenly and then go back up, thats the computer adding extra fuel every few seconds to keep the Cats HOT
Yours is running under .6 but I am not familiar with the 2.3l Duratec specifics, but I think that's low, lean, which can effect LTFT
An exhaust blockage or leaks can also cause Lean readings on the B1S2 O2 sensor
If you find and fix the problem you would see STFT in the -1 to -10 range which would bring down the LTFT as you drive
Some OBD2 readers can clear LTFT, but thats not always a good thing to do unless its already close to 0
LTFT in the -8 to +8 range is OK, as said its there so computer can run the engine with its small aging faults, better than relearning every time
And if you don't clear LTFT and you do see the -1 to -10 STFT after warm up then you will KNOW you fixed at least part of the problem
You would still get the P0171 code until LTFT dropped under +15 from driving