My GPS behaves the same. With the other location services enabled it will lock on fairly quickly, but when I disable them my GPS wasn't even able lo lock on my location.
I'm also experiencing the data drops, but have also experienced it across two other roms (codename and rootzboat). It usually happens to me while coming out of deep sleep, or when my 4g signal switches to 3g. So I think it's a combo of vzw lte issues and the deep sleep mode for hot plug and interactiveX gov.
You had me at herro