:iamwithst
Yes, it is a 5V pulse per tooth. I counted the pulses when I installed my Pro-Oiler, IIRC it was 18 pulses per wheel revolution. Other bikes use 12V at the sensor, and the pull-up vs pull-down issue is real, but if you're building a one-off for an R1 you can ignore that and just wire it for the R1's signal...
This is NOT a pulse-width-modulation (PWM) system. PWM signals vary the width of the pulse (hence the name) to convey information and generally keep the signal frequency stable. The information is the ratio between the pulse "on" time versus "off" time.
On the speedo, the information is number of pulses per second. The pulses will get narrower as the wheel turns faster, but the off time will also get shorter, ie: the ratio of on to off will always be constant (and will match the profile of the gear that the sensor is reading).
The speedohealer isn't complete rocket science (basic digital electronics), but it is a lot more than a resistor. If you know how to build electronic circuits and program a microcontroller, then it's a relatively easy task, but unless you want to do it for the fun of it or have some other project in mind that this naturally fits in to (like building a datalogging system or something), then the effort spent is not worth the cost savings.