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Speedometer is bouncing all over the place. Also noticed a leak at cable that fastens in the transmission. I replaced speedometer bullet should there have been transmission fluid that poured out? Still bounces around but not as bad have ordered a new lower cable.
You indicated that you order the lower cable, so I assume you have cruz control. What happens is the, as the transducer wears it puts more tension on the lower cable then the upper cable. Basically, the lower cable fails first... so i think you are on the right track but replacing the lower cable.
Pouring out? No. Dripping out? Yes. There is an "O" ring on the bullet, or should be.
When you get your new cable, slide the inner portion part way out of the housing and apply gun grease to half of it, then pull it out the other way and lube that half. Gun grease handles the heat well in the engine compartment and keeps the cable spinning smooth. Other lubes can melt and actually wick / auger their way up to the back of the dash-speedo housing and ruin the innards.