Abstract: An instrumented wheelset system and method for providing an accurate and integrated instrumented wheelset on a train or other vehicle is provided. A subject wheelset is profiled and subjected to finite element analysis. Simulated loading of the wheelset is used to help determine suitable target locations on the wheelset surface for placement of strain sensors. Simulated output of the strain sensors so positioned is recorded to develop wheel sensitivities, without inaccuracies due to strain sensor output ripple and crosstalk. The strain sensors are installed based on the modelled characteristics, and subjected to methodical calibration on a calibration fixture. After any adjustments, the wheelset may be installed on a vehicle including a computer and intelligent data acquisition units for gathering wheelplate data on a live-rolling, realtime basis.