Re: How does my speedometer work?
GPS speedos show speed over the bottom. Pitot speedos show speed over the water. Both are valuable. In my experience Pitot speedos can be quite accurate. I have had two Merc system speedos, 1 Alpha, and 1 Bravo that were within 2% of GPS with no current. In fact they are an air pressure gauge graduated for MPH. The water pushes on air in the tube and the gauge reads that pressure. No different than one you use for a tire. That year Merc has a tiny hole in the leading edge just above the "bullet" on the lower unit it leads to a tube that runs all of the way to the speedo head. Unplug it and you will get wet as the water will push and there will be no resistance. It will pee all over you, but it is still an air pressure gauge when it is hooked up properly.
Edit: Sorry for the repeated info, but it seemed like it needed a summary.