My understanding of the stack sensor is the same as you, that it will count a ferrous object passing in close proximity. It's not a reed switch like in a cycle speedo, it is a proper hall-effect sensor. If you can get the clearance correct and consistent to your wheel studs you should be ok.
I haven't used the pulse amplifier, the Salies sensor worked fine with my ST700. As for calibration I did do some maths and try to calculate the circumference, then counted the revs of the speedo drive per revolution of the road wheel, and knowing the number of pulses from the sensor per rev this got me close, ish............. Then I borrowed a GPS speedo and adjusted my settings until I got an accurate speed reading. No doubt now there is an "app for that" if you have a smart phone, but a Sat-Nav would work just as well.
Phil.