pull the sensor and check the reluctor ring and the sensor.
on my s10, my speedo was possesed. when you step on the gas, the needle went slower. the faster i was going the slower it said i was going when on the gas. when i let off the gas, the needle would show about the correct speed. at 70mph when i had the petal to the floor it showed 10mph and when i let off it was about 70. Thats the fastest the speedo ever moved /forums/images/graemlins/whistling.gif turns out when the tranny blew up 2 weeeks later(t5) the reluctor ring was ground down from metal shavings on the sensor. put a new reluctor ring in the new tranny and it worked perfect.