get a scantool and/or a datalogging cable especially if you are planning on keeping the vehicle. reading the data stream is mandatory IMO. I think you need to read the manual for your aftermarket speedometer and figure out how to calibrate it. Have you tried contacting them for tech support?
EDIT: chances are if the torque converter is locking up, the ECM is getting a speed signal. this would be a quick and dirty way to test it.
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