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yes, that's exactly the spring. One end hooked to the needle (or drum in the case of the 'ribbon' speedo), the other to an externally adjustable stop.
Of course, it must be noted that ever since I took mine apart to fix the trip odometer it reads approximately double what it should. I'm guessing perhaps I needed another complete turn of tension on the spring before reassembly. I discovered this once it was all back together and installed, and in about 3 years I haven't bothered to fix it. I mostly judge speed from the tachometer, anyhow. While the speedo got hacked badly by my 'fixing' I can proudly point to the working trip ODO.
Sure makes for great 0-60 times though!
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I'm JohnMc, and I approved this message.
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