Having recently acquired a bluetooth GPS receiver for as little as 20 €, and just having switched to KDE 4, i tried to combine those two, and write a little plasmoid to show the current position on the desktop.
And that is basically everything to say, enjoy the little applet.
Installation
Make sure gpsd is installed and set up properly. Also make sure the python bindings are installed.
In Ubuntu you would need to:
sudo apt-get install gpsd python-gps sudo dpkg-reconfigure gpsd sudo apt-get install python-plasma python-dev
After those are installed, you can proceed to install the plasmoid with plasmapkg -i.