So if you hadn't gotten proper coordinates from the GPS unit, there would be "nothing" when I toggle coordinates on?

Well they would be 0.000 and 0.000, so they should only be confusing for a couple of people somewhere in the middle of Africa.

Do these look like they would be accurate if they were last coordinates the receiver might have gotten?

Does Penn Valley ring a bell? It should be about a mile away.
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40GB - serial #40104051 gpsapp