Code p0722 speed sensor.... what is the real prob? thank you for your time

Not having more specific info as to the behavior of your vehicle it's hard to say. what the problem might be. Computer codes are only a place to startt.
The P0722 is for Output Speed Sensor 2 Circuit No Signal. This means that the transmission control module is not receiving a signal from the Output Speed Sensor.
I am assuming (based on this information) that your vehicle is front wheel drive and has an automatic transmission. If you have a different powertrain (i.e. quattro all wheel drive or a manual transmission), write back and let me know.
This P0722 is a common fault on front wheel drive automatic transmissions (called a CVT). The bad thing is that the output speed sensors are part of the transmission control module and the only way to repair that is to replace the transmission control module. The module is located inside the transmission. Expect to pay $1000 to $1500 for the module and another $700 to $900 for labor.
There is a possibility it could be the Neutral safety switch. They an get dirty and cause problems so spend a cople of dolars checking this before laying out the bigger bucks.
Testing Neutral Safety Switch

Required Tools:
Test Light/Voltage-meter
Wiring schematic
Neutral safety switch location (component location)

Test Procedure
Locate the neutral safety switch
Disconnect the wiring connector at the switch
Using a test light or volt-meter test for power at the wiring harness with the key in the "engine crank" or the gear shifter in the "reverse" position. (do not start the engine)
If power exists reconnect the neutral safety switch and probe outgoing wires at the connector.
If no outgoing power is present the switch has failed and needs to be replaced.
Tip : If the engine will not crank over with the car in "park" push down the brake pedal and try cranking the engine over with the car in "neutral". What you are doing is bypassing the "park" position in the switch and now are using the little used neutral circuit. If in neutral the engine starts the switch is probably bad.
Tip: Sometimes a neutral safety switch can become misadjusted. This switch adjustment can change due to normal wear of mechanism that controls switch slider.
Other complications can occur if there is a loose connection somewhere in the system. While this condition is not a shorted circuit problem, it is a condition that simply breaks the flow of electricity intermittently. To troubleshoot this problem consult a car repair manual to locate the wiring schematic for your car. Repair the broken or shorted connection as needed and recheck system. Electrical problems are less complicated when the proper information is available.
Hope this helps you