Bluedog.
Your right, the gps sending an output to your VHF is strictly for emergency purposes. Only if your VHF is DSC equipped and your gps has a nmea output. With this connection made, you flip open the red emergency door on the VHF and press. This sends your Lat/Long. coordinates to the Coast Guard ( and other commercially equipped ships). This will not be fully implemented with the CG until '06. You have to register your VHF with the Coast Guard ( this takes about 5 minutes over the internet) It gives them the basic info about you and your boat if you ever use the DSC button.
I don't think you told us where you boat? Is it inland, great lakes, offshore? It makes a difference. If you strictly and inland lake fisherman on a tight budget, you might consider a handheld VHF. It won't perform near as well as a fixed mount but It will serve as a good backup when you decide to go with the fixed mount. No DSC with the handheld. Besides if your inland, DSC would be near useless to you.
I still think, handheld cheap Garmin GPS, VHF as you choose, and a Garmin 160/240 blue (as mentioned, they are discontinuing the unit) The ONLY difference between the 160 and 240 is pixel count. Same exact software and functions.
Hope this clears some things up some.

Mike