I have it setup on my MR2 with both front abs sensors and the gearbox output as my wheel speeds, on track it works amazingly well keeping the rear end reigned in while still staying playful and allowing for some slip. It works well on the road too with the exception of under ~25kph because I haven't used a comparator on the signal from my ABS and so the speed input doesn't work below 25kph. The motor in the car is a 309whp naturally aspirated 3.5l V6 so has plenty of torque but will also be a bit simpler to control than a turbo motor.
Somewhere between 4-20 teeth at the wheel is good. If on the driveshaft then 4-6 teeth is good. For sensors the ZF GS100502 is often a nice option as it is just a long M12 threaded body so is easy to mount. On the front you can often pick up of the wheel stud heads in the back of the hub.
