It was the sensor.

I didn't post all of the symptoms. The S light was blinking and after a few minutes the Check Engine light also turned on.

I used the Honda diagnostic process to verify the situation. It's simple: The black wire should test as Ground. The middle pin should indicate 12V (with the key turned in the ignition). And the 3rd wire should read 5V.

If that is accurate, then the tech manual says it's time to replace the sensor.

The problem with the replacement sensor was that I didn't press the connector ends together hard enough.

This proves that $40 replacement speed sensors do fit and do function.

Thanks all,
- CarlD