There is a lot to like about the FrSky telemetry system. Unfortunately, the GPS-V2 device with the factory firmware isn't very likeable. The good news is that you can update the firmware yourself and realize the full potential of the GPS V2 hardware.
This book provides information on how to download new firmware and install it.
In addition to the available binary files, this firmware is also down-loadable in source form. Information on the tools and techniques for developing and debugging is outlined in later chapters.