Some (most?) gps programs can record and then playback gps info. I know you can do this for Street Atlas. I think though that each program is expecting the data for playback to be in that program's recorded format. I don't know of any that can read right from a text file built from hyperterminal.
I guess you could find out the file format of a programs' recorded data, and then translate the hyperterminal output into it.