Given that COMM ports have disappeared from currnet laptops and that most current GPS units are supplied with a USB interface connection cable, it is time for the GPS toolbar to be reworked to recognize GPS units connected via a USB port. while you ae at it, add bluetooth capacity so high end (Trimble) GPS uints can connect via bluetooth.
This idea has been merged with Native support for USB GPS devices.
No more "suggesting" that third party software (gpsgate) be used to create a virtual comm port so that USB/bluetooth devices can connect to ArcMap.
Forum posts show that this has been an ongoing issue for a while now.