Features:
The software is licensed under the GNU GPL. It is available in ipkg form. It's also in handhelds.org's CVS, in apps/pygps
I've got the obligatory screen shots. Here's one of the position display, showing you the GPS coordinates of my house. Specifically, right outside the window of my office. And here's another one of the moving map display.
Obviously, somebody out there is working on a GPS sleeve for the iPAQ. Whoever you are, please contact me. I would like my software to work with your hardware. I am willing to sign a nondisclosure in order to get early access to your hardware.