To calculate the actual speed you need:
Transmission gear ratios
Final drive ratio
Tire diameter
Engine RPM
[tire diameter (in inches)] * [pi] * [1/(gear ratio * final drive ratio)] / [in/ft] / [ft/mi] * [RPM] * [min/hr] = MPH
Constants:
pi = 3.14159
in/ft = 12
ft/mi = 5280
min/hr = 60
I'm sure I could simplify this equation, but this is good for seeing all the necessary parts and conversions.
So I watch the tach and speedo to determine MPH per 1000 RPM in higher gears (3rd,4th,5th). On my car its about 11, 15, 19.5.
calculated:
tire diameter - used an online calculator - 195/55R15 = 23.4in
gear ratio (3, 4, 5)- 1.360, 1.034, 0.787
FD ratio - 4.40
RPM - 1000
3rd: 23.4 * 3.14 * ( 1 / ( 1.360 * 4.40 ) ) / 12 / 5280 * 1000 * 60 = 11.6
4th: 23.4 * 3.14 * ( 1 / ( 1.034 * 4.40 ) ) / 12 / 5280 * 1000 * 60 = 15.29
5th: 23.4 * 3.14 * ( 1 / ( 0.787 * 4.40 ) ) / 12 / 5280 * 1000 * 60 = 20.1
This seems to be about correct. There are a couple things that will throw this off such as tire diameter not being exactly as advertised, tire wear, and the tach and speedo not being 100% accurate. Doing this as one equation and using a calculator's pi gives more accurate results due to significant digits.
You can also use a GPS (or a speedometer app on your phone) to view your speed.