I just purchased a 1995 Subaru Legacy. It has 107522 miles on it, a 2.2 fuel inj. gas engine, AWD, and an automatic trans. Neither speedometer nor odometer work. A check engine light is on. The rev limiter kicks in early at approx. 4300 RPM. I can't find a speedometer cable and I'm told the problem is probably a faulty vehicle speed sensor but I'm also told that there are two of them and I don't know where they are located or how to tell which is bad. Any advice ?

I'd try doing the easy thing first. The speedometer cable and external housing runs from the back of the speedometer inside the car, through the firewall, and then to some location on the transmission under the hood. Open the hood, and look for the housing that comes out through the firewall, whicch you'll probably find straight in line from the center of the speedometer inside the car. Follow that housing until you find where it connects to the transmission. It should be screwed on to the transmission. Unscrew (you may need pliers) and gently pull out of the transmission. You should be able to see the end of the speedometer cable which runs inside the housing. Try pulling gently (you may need pliers) on the speedometer cable. If it's completely broken, the broken piece should come out easily. If it doesn't come out, have someone inside the car watch the speedometer while you turn the cable (you might have to connect an electric drill to turn it fast enough to see any action). Try the drill in both directions. If you get NO speedometer reaction, the problem is probably in the speedometer assembly inside the car. If you do get a speedometer reaction, the problem is probably with the plastic or nylon speedometer gear at the transmission end where you removed the cable (the gear may be stripped, or the end where the square speedometer cable goes in may be worn or rounded out). I'm not familiar with your particular car, so I don't know exactly how you remove that gear. GOOD LUCK !!.