Unless they changed it drastically, it also has an outlet with additional plug that locks in your highest speed with the push of a button (see below). Hold the button doen a little longer, it resets to 0. It should also just plug into a 3 wire connector from your speed sensor.
On my FZ6, the speedometer was off about the same as the Concours which bugged me as I want to know exactly how fast I'm going (should I get stopped or to keep from getting stopped). Once checked against the GPS and programmed, its dead on, no more guessing..
I have a GPS, mount and its hardwired but I don't leave it on the bike. This gives you the accurate reading of a GPS and the memory of your highest speed without worrying about your GPS walking away... Great farkle IMHO....
Townsend is correct, there is an option to install a momentary button that will activate the speedometer needle to show your maximum speed since the previous reset and hold it there for about five seconds. It works the same whether stopped or moving. Hold the button for a few seconds and it will reset and record you next highest speed achieved in the time between the reset and the next time you momentarily press the button. My Garmin also reveals the highest speed reached between resets. Because your speedometer is corrected, both the speedometer and the GPS agree on the maximum speed achieved provided that speed was held for more than a few seconds. If your maximum speed attained is only held momentarily the speedometer will show a higher reading than the GPS because the speedometer has no lag time whereas the GPS is always a couple seconds late.