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I have a 2000 F350 with a 5.4L Diesel engine. The few days ago the speedometer started acting up. The speedometer doesn't move until you hit about 40 mph, the odometer and trip odometer don't seem to move until you hit the magic speed either. The ABS light is also on, and I do believe that came on the same time as the speedometer started it's problem. Also, the overdrive light flashes during the time 0-40 that the speedometer is not working.
If I'm not mistaken....my 1999 F350 has a speed sensor on the rear end as mentioned, but it also has one on the rear of the transmission. When I replaced the one in the rear end housing my ABS light went out. Seems like the one on the tranny is for the speedo. Could be wrong though. Can't believe both would quit at the same time. However, on the 99 (and probably on the 2000) the sensors are the same, so you could try it in either place and then switch if needed. Just my 2 cents......