Conversation Between Mark Kovalsky and pie eater

hi mark . sorry to bother you, but i have a quick question. i have just bought a 2002 mazda b3000 (ford ranger) i have the dreaded p0720 code for output speed sensor circuit. the tranny will drive in 2nd manual, and is slipping in reverse, and thats all it has for action. the last owner said the speedo started reading 140 mph even though he wasnt doing that speed. the tranny 5r55e was rebuilt june last year(14) but the shop that did the rebuild will not honour the warranty because of change of ownership.
have you ever seen the output circuit cause similar problems, or do you think im barking up the wrong tree. i am presuming that everything should be good in the tranny, and was wondering if this circuit failure would effect the shift solenoids ect. sorry for the long winded mail, but i would really value you opinion.thanks. all the best for 2015. steve.