I have a 74 1.8 wanted to use the plug instead of taco plate is that a good choice? Thanks

Sounds risky to me if it does fit. If something hits the ceramic isolated and breaks it you could loose all your oil.

Was thinking that to, it looks like the plug is one solid piece with the sender on the outside, not to much differant then a sender hanging out of a taco plate I would think thanks for your thoughts

The proper "taco plate" is recessed up into the sump. The sender screws into the side of the recess, and there is a cover plate that goes under it. The whole sender is above the level of the bottom of the engine, and it is not exposed to the relatively-cold outside air.

--DD