Hi Len,
The short answer is, it's complicated.
Let's look at the tacho first: The tacho is simply an analogue meter with some electronics driving it that reads the signal from the ignition points. I am not sure if the electronics requires a fixed dwell (angle that the points remain closed) from the distributor. If it does, and you have new electronic ignition (e.g. Powerspark) then the tacho reading will be in error. This is because modern electronic ignitions limit the time that they effectively "close the points" for when the engine is at lower RPM. You can test this with a portable dwell/tacho meter hooked up to your car. Typically, tachos simply need to be calibrated to read accurately. There are probably some adjustments available but I don't have a Mk 2 unit so I couldn't tell you. Again, you can check the accuracy with a portable tacho meter.
As for speedos, this is a bigger problem. I used a tacho (yes that's right) gauge out of a some Mitsubishi instrument cluster that I found on someone's hard rubbish collection. A printed circuit board that I'm working on will drive this with some analogue electronics and a microcontroller like modern cars. I have constructed a speedo sender unit that attaches to the gearbox and sends a signal to the electronics which then drives the analogue meter (from the Mitsubishi). There is the added problem that you need an odometer as well.
So, this is a complicated solution. I'll post some photos when I get it going.
Cheers,
Peter.