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Reach up under the dash and you will be able to find the cable where it goes into the cluster. All you need to do then is un-screw it from the cluster.
Yeah, but it can be hard to do. There is not much room up there and I have always had difficulty getting my fat hand up in there and still being able to turn the cable to remove or reattach it. Getting it off is easier than getting it back on though. If you have a wife/girlfriend with small hands, or kids, you may have to ask them for help.
The speedo cable slack may be from a loose fitting cable coming through the firewall. This may allow unwanted air or fumes to enter from the engine area into the cabin area