Any version of BlueSoleil BlueTooth driver can be used for described connection method.

Some devices do not provide Serial Port Profile (SPP-service). In this case the device does not have incoming Bluetooth COM port. On the following picture one can see that selected ASUS_P320 does not provide SPP-service.

So, the only way to connect the device and PC via Bluetooth Com port is to connect them using outgoing COM port on the Bluetooth enabled device. You need to perform the following steps to connect them:

1. Open 'Settings / Bluetooth manager' of the device.
2. Open 'Devices' tab and press 'Add Device:'.
3. Select your PC from a list (your PC shall be discoverable).
4. Pair the device and PC (you may need to enter the same passcode on the device and PC).
5. Now you need to create outgoing COM port to PC from the device. Switch to 'COM ports' tab.
6. Press 'Create Outgoing Port' and select your PC from a list.
7. Choose name for outgoing COM port (in my case it is COM6) and press 'OK'. Programs on Bluetooth enabled device shall use this COM port to get GPS data from PC.
8. Run some GPS software on the device and choose outgoing port (COM6) in it. Make the software to open COM port.
   
9. You will see a notification saying that Bluetooth device has connected to Serial Port A. In my case it has connected to COM10. This COM number shall be used in GPS Generator.
10. Launch GPS Generator.
11. Open 'Data Transmission / Communication Port Settings' dialog.
12. Specify the correct port name and number (Serial Port A). Pay attention to COM port name: "//./COM".
    Unfortunatelly the software is not able to find this virtual COM port if you specify it simply as "COM".
    
13. Press 'OK' and start simulation. After that a software on the Bluetooth device shall start to receive NMA data.

Prerequisites for this article:

BlueTooth driver: BlueSoleil v. 3.2.2.8
PC with OS Windows XP Pro with SP3
Asus P320 with Windows Mobile 6.1Pro

It your BlueTooth device provides SPP service then read this article.