I just had problems with mine and replaced it.
I'd also like to confirm what formula said..... the thing on the injection pump is the TPS, not the speed sensor. It is located just were formula said, on the transmission or the transfer case on a 4X4.
In my case the speedo would spazz like crazy if I 'got on the throttle' but was ok if I did "granny driving".
Every time the speedo went wacky, the transmission would drop out of OD.
So far, the new speed sensor seems to have fixed the problem.
As for the TPS, mark is right on... . that thing is the bane of our existence.
When the TPS acts up, it causes the 3-4, 4-3 shift to get wierd.
The truck will "hang" and not want to go into OD, then it'll drop out seemingly for no reason and on it goes... .
I have a detailed "how to" on my 'puter here, its in text format I think so if you want it, I can email it too you. I finally typed it out and saved it after posting it about 50 times...
Let me know.