I'm pretty late to the Android party so this could easily be old news to you guys.
I have been having a play with AMIDuOS. I was amazed at how well Nextgen ran on this, 100 times more slick than a WinCe emulator running primo, Fully functional it would appear, though I haven't tested GPS connectivity.
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AMIDuOS has an option to connect GPS hardware Via a com port, so i guess that a USB GPS module that creates a virtual com port should do the trick.
(My interest in this emulator is for doing a little tweaking)
Here's 2 screen shots with 2 different dpi settings.
Win 10 laptop,
NextGen BasarSoft v184.108.40.2067562 -(many thanks to djeman, catymag & others)