Hi Arjun,
Thank you for your interest in developing GPS applications. The Windows 7 Sensor and Location API is designed to work independently of NMEA COM ports and prevents the need to parse NMEA sentences. It provides a strongly typed C++ interface to retrieve location updates. You can see from here: http://msdn.microsoft.com/en-us/library/dd317747(VS.85).aspx how to retrieve the location without binding to a NMEA COM port.
The Sensor and Location Platform does not provide a facility to handle NMEA COM Ports; if you'd like to utilize them for legacy GPS drivers, you will need to follow-up with the documentation that QCWWAN Connection Manager API for Gobi 2000 provides regarding this.
Cheers,
Alec