Hi,
Mappoint also has the possibility to connect a GPS receiver to serial port. This is not in API and not needed because if you use the API you can better write it yourself
So what you have to do is parse the data coming from the GPS receiver, and place a pushpin on the exact position. You can zoom / move the map to center around it, or move when it go out of the window or whatever.
And Yes, GetLocation returns a Location object form the geocoorinates. To add a pushpin at the location use AddPushpin method.