Good stuff on that link - thanks Simon. At this stage dunno if it's mechanical or electrical.
Let's assume (because the speedo has electronic odometer) that I've a "later" version of the cable, in 3 parts. And that because I'm _not_ getting a heap of MIL lights and/or poor performance, that the link up to the transducer is OK. So that would suggest it's in the final stage from transducer to speedo.
But then, as the speedo page says "the cable will inevitably (5 minutes - 20 years) ..." which sums up Mogs

So it could be electronic/bad earth.
Soo - time to have a root around I guess...