yes, I tried when I originally got my i730.
I played with it for hours (under windows, so no GPSD) and never really got much out of it. The GPS dosent seem to want to talk much, and when it did, it wasnt reliable. My position would shift as much as a half mile when sitting out in the parking lot at work.
If you're looking for a cheap GPS, google "onstar gps mod" and read the article about a guy that hacked his OnStar module. The chipset the onstars use should work with GPSD, its listed. Picking up an OnStar module if you dont drive a GM should be cheap at a junkyard, as they cant be transferred to a new car, and all you really need is the GPS board and the antenna.
Otherwise, spend the money and get a new(ish) GPS that supports WAAS, it seems to be the best option ATM if you want accuracy.