We evaluate the stabilized three-field stress-velocity-pressure
Galerkin/Least-Squares finite element formulation for viscoelastic fluids, 
using a benchmark problem of Oldroyd-B flow past a cylinder in a channel at 
various Weissenberg numbers. To address the issue of weak 
consistency exhibited by low-order velocity interpolations in the context 
of stabilized formulations, we also employ velocity gradient recovery, 
and study how such an approach affects the quality of computed results.
We show that characteristic flow quantities obtained with the
new formulation are in good agreement with standard DEVSS results,
while the cost of fully-implicit velocity gradient computation 
may be in some cases avoided.