Ok that makes life a little clearer
In summary what you lose if you have an LX, Cambridge or similar is
a) Faster more accurate vario info
b) IAS meaning that wind and final glide info in the glide will not be nearly as accurate
With rgd to the Flarm functionality - it is all very impressive BUT is the climb rate of any real use (and surely it is contentious).
In theory FLARM only works within 1k and there will rarely be more than on thermal within that distance so in reality it can only report the climb rate of gliders in the same thermal as you or a thermal that you are very near to in both of these scenarios this is something that you should see with your own eyes and thus maintaning your own situational awareness. It would appear that this functionality will simply encourage pilots (especially the more newly qualifued) to look at the instruments (Seeyou/WP etc) and not out of the window where they might see a non FLARM g;lider about to hit them.
If flarm does have bigger range making it usefull for longer range thermal decision making then the information that the IGC approved the use of FLARM on is in error and they will likely revoke it.
http://www.fai.org/gliding/p240705Now what would be interesting/worthwhile would be if you could take the NMEA from the LX on the serial line (com 1) and the FLARM data from a BT feed on a different com port as you could easily feed FLARM to the IPAQ over Bluetooth - devices to convert serial to BT exist and only cost arround $100 or less and a most IPAQs in use can handle BT. Ideally Swiss Flarm could build it in as it must be very liile money judging by the price of BT GPS prices - but thats another story and unlikely to happen unless the demand is there which can only happen if you and others enable it in your SW and maybe sell a BT serial converter fo those interested.
This would be especially worthwhile for the LX1600/Cambridge 302 users who need the ipaq connected to these instruments to control them.
rgds
Stephen