Satellite speedometer and dash info pannel

I want to make a satellite speedometer and wanted to know what the absolute best/easiest/affordable chip would be that works well with an arduino. I have seen some all over the internet but I don't know what ones are good with ardunos.

What my final project will consist of is a 16x2 display that shows my speed in MPH, average speed, and maybe even a trip meter. It will be placed on the dashboard of my motorcycle so it needs to be somewhat small. Not sure how the trip meter will work but I figure if I know speed and time at that speed I can calculate it.

Thanks!

I'm looking to do similar. My plan is to use a GPS module (Already have), and poll it every 5 seconds.

Note that some calculation is required to triangulate longitude and latitude:

Longitude distance conversion (miles per degree) = 69.1703234283616 * COS(Lat)

a few typo errors, but the gist of it: http://www.ehow.com/how_5744407_convert-degrees-latitude-miles.html

Pseudo:

double prevX
double prevY
double currX
double currY
double distance
double speed

if (time > 5000){
currX = (get current X)
currY = (get current Y)

distance = sqrt( pow(2,(currX - prevX)) + pow(2,(currY-prevY)) )

(convert distance from degrees to miles)

speed = distance * 5 / 3600

I actually found a module online that will input a serial string that tells you your long/lat and knots and all you have to do is parse the string and convert to mph or km/h. I just didn't know if people have had particular luck with one vs the other.