I just installed a speedohealer on my GSX-R1000, and after calibrating it using a handheld GPS (my stock speedo ran 108.2 percent of actual), I came up with a better way that isn't mentioned in the guide. It's kind of fiddly trying to read a GPS while maintaining a constant speed, especially because a GPS only averages readings over a second or so.
However, the speedohealer has a top speed function (press the button while in operating mode), and so do most GPS, even my cheap old eTrex. What I did was to reset both devices top speed, then ignore the GPS and ride up to a given speed as indicated by the speedometer, and hold it for a couple of seconds. Then stop the bike and retrieve/compare the stored top speed from the GPS and speedohealer, and use that as your basis for calibration. I did this at several speeds - 30, 60, and 90mph, read off the settings, then reset the top speed memory on both and repeated a couple of times (to deal with the GPS averaging). Took the average of the readings for each speed (they varied by a couple of tenths) and got my calibration factor.
Much quicker and more accurate than trying to read a GPS while holding a constant speed, or pacing a friend, etc.
KeS