97 Cavalier Speed Sensor

Ok so heres the deal,

I have a '97 cavalier with manual trans. the other day I lost my speedometer and the check engine light came on. I figured it was the speed sensor so i hooked it up 2 a scanner and that was said to be the problem. I pulled the old sensor and it was shot. It was in 3 different pieces. All the pieces were accounted for so there is nothing floating around in the tranny that shouldnt be there. I put the new sensor in and still had no speedo and my check eng. light was still on so i figured i would have to clear out the code. I did that and it took the check eng. light off for about 2 miles but with no speedo. The only thing I can come up with is it could be sumthing in the PCM like a relay or sumthing, or possibly a wiring problem. Any ideas?

could be wiring, PCM, or the reluctor in the trans, new sensor is bad.....what broke the original sensor?

My best guess on what broke the old sensor is just wear and time. I doubt it had ever been changed before and the car has 160,000 miles on it. The sensor is made mainly of two pieces, both of wich are plastic with a thin plastic bracket holding the two together. Is there an easy way of determining if it is the reluctor in the trans.?