I think the guys have summed it up nicely - Silverlight is in a tight sandbox and you will not get access to the COM port or other local resources.
So let's start to think about alternatives:
- Use ClickOnce and a full .NET application - Gives you easy deployment and udpates, and you will have the full power of the .NET framework.
- Use a XBAP (Browser Deployed WPF) that requests some extra permissions. Would live inside the browser, but only run on Windows machines with .NET 3.0 / 3.5 installed
- Write an ActiveX control that talks to the GPS device and expose an API. Then use JavaScript to consume this API and interact with the JavaScript code from Silverlight. This would give you a in-browser GPS application, but your users would have to install an additional GPS ActiveX component.
Cheers,
Jonas