Bear with me for a sec and always keep in mind my limitations

I'm painfully aware that this is a mess of my making and confusion in really messing with me on all fronts when it comes to this circuit - I don't know why which makes it harder. Backing up for a second...
OK, in really simple terms the sensor I am measuring is like this;
Fed shared 5V VCC with other sensors (power)
Has a Shared Sensor Ground with other 5V sensors (ground)
Has one output line that varies from 3.6 to 4.4 (all OK) and drops down to .7 to 1.3 when the circuit should activate. (let's call it sensor output)
So, with respect to the new schematic above, the output line from the sensor (typically .7v to 4.4v) should be connected to the top VIN line?
The ground for this circuit should be connected to the lower VIN line? (the shared sensor ground)
The rail across the top (marked 5V) should be connected to the 5V VCC feed (ie, always has 5V VCC).
Line #2 marked
out is the line that latches low (goes to ground) when the circuit is activated.
If my understanding is correct, then this should work. The specific point of concern for me is the top VIN line on the left. That would be the sensor output right? ie. Would typically be 3.6 to 4.4 or .7 to 1.3 when the sensor activates (so to speak).
Lastly, would this circuit draw much power from the 5V VCC line.
Fire when ready!
