1) It is cause for some concern in really hot areas. Some mounts, many of them Garmin mounts, have been known to "melt" onto the windshield and become almost impossible to remove. That is rare though. There are also safe temperature ranges for 'storage' that are shown in the user manual. I haven't heard of any specific incidents of a device malfunctioning from heat when left in a vehicle, but it is possible.
2) In most cases I would say the GPS. However I've had six GPS devices on the dash, all displaying current speed, and they did range in what they displayed while the speedometer was steady. Some consistently read high, others consistently read low. But in general the six GPS devices were more in agreement with the current speed than what the speedometer showed.
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