I suspect that as speed lowers, any instantaneous reading is likely to vary from one to the next and it may be necessary to add some averaging function. Get something working first then enhance is my recommended path.
To increase low-speed accuracy, one could simply add more magnets to the spokes and thus increase the number of pulses per revolution of the wheel, although this may then dictate a pulse counting algorithm if not spaced evenly.
There is no reason not to have more than one reed relay, on different radius, and there could be different numbers of magnets at each radius and the PICAXE could select which to use.
It might be possible to put a reed relay to the front of the fork and one to the back on the same radius, with one or more magnets, and time the period between one reed activating and the next. This might be the 'balanced' optimum, and the more magnets there are, the more accurate low speeds can be determined - I think this might be my prefered solution, but might need R-S flip-flop hardware to get a pulse to show the time of travel between the two reeds ( a large cap with one charge-up / one discharge reed switch may do the job ? )
The three options do seem to be measuring reed closure pulse widths (short), time between pulses or counting the number of pulses in a time period. It may be that each method is more suitable for a particular speed range than another, so being able to switch between each might be useful.
You should perhaps determine what speeds you are looking at measuring; are you 'parambulating', racing or both ? Then look at what pulse rates and times the various schemes would give you, and determine which would give you the results you want to see and are optimal for a PICAXE.
For racing, and to just dive in, a single reed and magnet is probably the best, will give you a feel for what you are doing which can be applied later. Build the hardware, bash out some code for pulse timing and pulse counting, with the results via SERTXD/SEROUT to a PC as suggested, then take it from there. Use the Mk I as a prototype, then expect to start Mk II software with what you've learned.
It looks like an interesting project with a lot of scope for enjoyable experimentation and learning. I don't do bikes, but you've set me off on a tangent of thought if I could measure walking speed with a pressure sensor / piezo placed on a heel. So many interesting projects, such little time.
Edited by - hippy on 20/06/2006 14:07:31