My speedo was out, and my cruise control still worked. Replaced the left rear sensor, and the speedo now works.

That being said, the Bently manual is correct in saying that it is deriving a speed signal from the right rear - of course, it it getting a speed signal from all four wheels. But it appears from my experience that the right rear speed signal is used for cruise, while the left rear is used for the speedometer.

As an update - the car made the 35 mile trip to work this morning with no warning lights or other failures - MUCH better than the 2.1 miles I got between the front driveshaft repair and this sensor nonsense. Hopefully I can drive it for at least a few months before working on it again. I'd like to spend some time working on my project truck...

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2001 E53 X5 4.4i Sport
Titanium Silver / Black
141k miles, and broken down more than it runs...

2002 E46M3 Convertible with 28k miles - DD