Yeah, an optical pickup off the driveshaft would work great. UNTIL that
rally you are on goes up a dirt road and some mud splashes up on the
lens....... Magnetic might be better. Better yet, use the standard
Speedometer cable location to mount an encoder of some type, then go to
electronics.
I may be an EE, but don't count me in on any design efforts. Why make
something more complicated than necessary? The stock setup, with a
different tooth count or a custom recalibration of the Speedometer, will do
just fine. Probably cost less in cash and effort than messing around with
your own electronic design, too.
Stu
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