Bad/loose connection sounds like a good possibility to me too. My 86 Z28 uses a mechanical speedo cable, but my oil pressure gauge acts similar to your description. You sometimes have to whack on the front of the gauge to get it to work.
Since it sounds like you may have an electrical speedo, I would expect that you'd get a "Service Engine Soon" light if it were a sensor and not just a connection to the gauge.
SPONSORED LINKS
Friday, August 10th, 2007 AT 10:38 PM