The speedo bouncing can be either a speedo cable or speedo head problem and can be rebuilt or the cable replaced.Remove the speedo gear at the trans and inspect the plastci gear,if it looks ok,hook up a cordless drill to the speedo cable and spin it up,see if it is binding,spray it with some wd-40.If it still bounces it is in the head. As far as the gauges go, it has a voltage regulator built into the cluster on the back.Check all fuses and power going into the cluster.On older trucks and cars you can usually get a service manual out of your local library for more info.
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