The T56 has a VSS reluctor wheel with a different tooth count than most others. (I can't remember the tooth count off the top of my head, 17, 21 I don't remember). The 700R4 that was previously installed in my truck had a 40 tooth reluctor. What I ended up doing was getting two VSS reluctors, One from a T56, and one from my old automatic.
I machined off the outside teeth of the original T56 reluctor, and machined out the center of the original 40 tooth reluctor from my old automatic, pressed them together and got my speedo working that way. Newer PCM's typically let you change the tooth count of the reluctor so you don't have to go to all that trouble, but I'm still runing old school speed density TBI for the moment. I don't think you need to change anything with the DRAC, not yet at least, which is that thing behind the speedo you're talking about. Sometimes it's in other locations and I think in 93 or 94 it was actually built into the cluster though I'm not sure on this.
I'm running the PRO 5.0 shifter that is for F-body cars. It will not work in the relocated position. In that writeup I posted a few posts back, my buddy who put together the writeup ended up modifying a Mustang Cobra shifter to fit the relocated position. There are surely other options as well. A 6.0/6 speed would be awesome, I'm planning on dropping in a LQ4 in mine someday and changing my LTx T56 to an LSx so it will bolt up to the LQ4.



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