1. Don't use the bing one (its obsolete). Use the ESRI.ArcGIS.Client.Projection.WebMercator class instead (that way you don't need a reference to the Bing assembly either).2. If you get invalid spatial reference, then your input points are not WebMercator, and you will need to use the GeometryService task to perform the projection serverside (note: Don't try this on mousemove, which would swamp your server in requests).
The coordinates displayed are the units defined by the maps spatial reference. So for example if the maps spatial reference is web mercator the units are meters. You can reproject from webmercator to geographic by using the ESRI.ArcGIS.Client.Bing.WebMercatorToGeographic method.
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