I picked up a Monarch Phaser-Laser Portable Tachometer a few years back on ebay, it was from a company that rebuilds and re-certifies them, so came marked with the calibration sticker on it.
Got a 5 foot x 1/2" roll of reflective tape from KBC Tools
see
http://www.kbctools.com page 925 in their catalogue.
To check that a photo Tach is working properly aim them at a Flourescent light bulb (,bulb must be on, LOL) and they should read 7200 RPM ( 60 Cycles / Second x 60 Seconds / Minute x 2 Pulses / Cycle = 7200 Pulses / Minute)
This works great for measuring the RPM and or confirming that the item is turning at the "proper" RPM.
With a bit of math it is easy to determine what the proper calculated RPM should be. R1xD1=R2xD2, so as long as we can determine at least three points we can calculate the missing one. IE Motor is 3400 RPM, and we measure the two pulleys and determine that on is 1" diameter and the other is 2" diameter. Then do our calculations based on that to find what the expected output RPM should be. Or if we know that we want a certain RPM on the output and we are starting with a known RPM at the input we can then determine the needed diameters of the pulleys or the gears.
I went through this with the Logan 9x28 and used the tach to verify that the spindle speeds were within a few RPM of the calculated values for each pulley combination both in and out of back gear.
As for cutting speed, that is easy to calculate, RPM=CSx4/dia CS comes from the tables in books like the Machinery Handbook and is in Feet /Minute, and the 4 factors out Pi at 3.14159 and that there are 12 inches/foot. After a few times, the CS becomes ingrained in our head, and the rest is easy calculations.
Here is a basic graphical chart for SFM.
Walter