If the front O2 sensor is bad would that cause the engine to run higher rpm's?

 

It could, but most likely you wouldn't notice it. What problem are you having?

 

Not in my experience. Mine is bad right now on my S10 and it's actually running fine. It comes up as "malfunctioning heater bank 2 sensor 1" so I know it's the O2 sensor.

An increased idle is usually associated with a vacuum leak of some sort. It also could be a bad IAC valve.