Well I have read the article on restoring a Lambretta speedo in the December 2009 issue of Scootering and taken my old speedo which gave up the ghost apart. It is one of the easiest tasks you could image. I always thought the inside was complicated. I thoroughly cleaned and greased up the parts as recommended in the article and put it back together.
I never like overhauling anything and not finding out what could have caused the problem in the first case. I noticed when I took the old speedo apart, the speedo casting was loose on the speedo assembly and on closer inspection I think this had allowed the end of the speedo worm drive to disengage from the speedo gear. When I reassemble to speedo I made sure firstly that the tab into which the top of the worm drive is held secure was adjusted slightly and the two tabs were well twisted to ensure the two parts are tight together.
I tried the speedo with a drill and hey presto I did 70 mph on the work bench. Hopefully it will work when I put it in the headset and go for a road test. If it does work, then the new speedo is faulty. If it doesn't