WHen my speedometer quit working, I just replaced the unit in the dash and it corrected the problem. It would intermittently start working and then stop, getting worse over time. My Cruise control still always worked no matter what though, so if it isn't working, then there's a good chance it's the VSS.
The clusters on these had that problem very widely, every time I go to a salvage yard that's one of the first things ripped out and I know a few people myself who all have had that problem. Supposedly it's the soldering job on the board for the speedo.
Another thing to consider is the ECU/TCU- I don't know which one actually receives the reading from the VSS. It could be a faulty TCU (only if it's an auto and has one).
In short, I would not write off that it could be just the speedometer. It's a time consuming PITA job to replace the speedometer but not horrible. If you do replace it, go to a parts store and get all the bulbs and replace them while you're at it. There are two bulbs for the climate controls you'd have to get at the dealer, but I strongly suggest doing ALL of them. I didn't, and now I have to basically do it all over again to get to one stupid climate control bulb. I thought just doing the cluster bulbs was good enough.
If it were me, I would replace the cluster. And I did. Granted my CEL has never been on, but I still think it's possible.