I've had GPS lock on very quickly with my phone. Using Google Maps & Navigation is very quick and responsive, and actually has replaced my car GPS entirely. Using Foursquare with Google Navigation Services is extremely accurate as well.
Gingerbread is out in the wild for a subset of Verizon users.
A side note: I am on my second LG Revo. This is not due to phone malfunctions - rather I dropped my phone one day while working, and didn't think of it. Unknowingly, this damaged the LTE antenna inside the phone. When 4G was lit up in my area, the antenna malfunctioned, and overheated the phone. Verizon was VERY good about this, and had my phone replaced completely with no cost to me (and extended battery!) after an hour at the local store.
This first LG Revo had Gingerbread, and I loved it. My second Revo does not have Gingerbread, and I have been waiting a long time for it. My girlfriend has Gingerbread, and it functions great on her phone. I've talked with Verizon several times, and they are releasing Gingerbread in subsets of 10k phones or so.
Best of luck to you! I highly recommend the LG Revolution.