Had mine reset a couple weeks ago and they claimed that they entered 601 without a problem, although I didn't see them do it in person.
As far as if it's correct or not, it seems like it is by watching the mile-markers, etc. but I haven't checked it with GPS yet. The dealer did claim that they checked it against another car. As far as costs, they did it for free.
As an interesting side note, it seems that when the revs-per-mile are changed it relies on the ABS computer. What I mean is this: I had to have my front left U-Joint replaced and when they fixed it they broke the ABS sensor and had to order one; this was the same time that they entered 601 into the computer. I drove it for 3 days without ABS and the speedo was still off ~10%, as it was before the change. After they replaced the ABS sensor and it was working again the speedo was correct (or as correct as it is today). It's like it just used a default setting or something.