1995 Oldsmobile 88 LS review from North America

I purchased my Delta just a month or so ago. I knew it needed some brake work and replacing the back brakes was not problem. However, now I am experiencing an unrelated problem. The "Check Engine" light came on and at the same time I noticed a severe decrease in acceleration from a stop. I also noticed the speedometer was not working and the cruise would not engage. I took it to a mechanic this morning and he said it was the speed sensing module that was connected to the transmision and that it would cost $160 to fix. He replaced the part (twice) and it did not fix the problem. He then said I would have to take it to a specialist because the problem might be in the wiring. Has anyone had this type of problem?

I really like the car and would be more than happy to spend some money getting it running. I just don't want to be spending a lot of money on something that will keep breaking. From what I have read, this car sounds like it was made pretty well and will fit my needs perfectly.