I never downloaded the GPS2Blue program for routing the GPS output to com ports, however I did use VisualGPS on the my laptop to connect to the bluetooth input com port created during the bluetooth connection... I was trying this because one person mentioned in a post that they did not need the software for it to work. I never got GPS data to go through, but it was funny when a friend called in the middle of my experiment and the GPS data log field showed
So, I would assume the GPS2Blue program routes the GPS data to the correct com port for either bluetooth or TCP/IP over USB connections.
Also, many users on PPCgeeks message board reported success using the bluetooth and usb connections to retrieve GPS on their laptop.
I still don't know if it is possible to use the GPS service at the same time as using the phone as a modem....