I have the non-3G iPad hence it is also sans GPS, one of the more disappointing aspects of the iPad model line up.
I tried connecting to a Bluetooth GPS that I happen to have but no luck, the iPad didn't even see it.
I have heard that there are some Apps that can make this work but that you have to jailbreak the iPad to use them, which I don't really want to do.
Is it likely that iOS 4.2 will provide more general Bluetooth functionality? Is there any chance that a more complete set of Bluetooth services will be available?
I would also like to connect to my 3G phone via Bluetooth and use it as a modem but I think that the situation is much the same.