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From what I've been told, the trucks speed sensor and rear antilock brake sensor is one in the same. It's that little thingy that the wires go to on the rear differential. I just read a post about a dog chewing on the one guys. So, you might want to start by checking that out. I've also heard that it's a $200 part.
I'm nearly certain that the transmission gets it's speed from what is called a "TSS" or turbine shaft speed sensor. the differential sensor is only for abs! the reason the ABS light came on is because the ABS module does not see vehicle speed. I think the sensor your looking to find a problem with is on the transmission or transfer case (if it is 4x4). the sensor sends its signal in HZ, so use the correct meter to measure HZ and go to the sensor first. approx 1100 HZ at 50mph. it is usually the mechanical part of the sensor that fails (the gear on it) Good luck, hope this helps Brent
THE SURGEON GENERAL NEVER SAID A THING ABOUT SMOKIN' A CHEVY!!