Graphic LCD as a speedometer, question.

Well it would actually have to be faster than 10 times per second as the acceleration will not be quite constant. It will be capable of doing it that fast but you will have to code it right. If you try and write a number, clear the whole screen, write another number etc then you will probably have issues.
It will easily be possible to do though.

Wondering why a graphic LCD... you could use a normal character LCD with large 4 line numbers.
Take a look at multidisplay: Google Code Archive - Long-term storage for Google Code Project Hosting.
MultiDisplay, Big Font with 2 and 4 Lines, Scope Function - YouTube!

Mowcius