Didn't someone ask for it for time ago?

I think that was before we had the satellite info screen which gives us some feedback before the gps obtains a good lock and starts sending position updates.

My guess is that early debugging (i.e. did I cross those rx/tx wires) could use some additional feedback, but that should probably stay inobtrusive enough that it won't bother a user once everything is up and running. Which is why a small flashing circle in the 'blind spot' in the upper left corner could be useful.