Yep thats the basic interaction with a GPS but after reading the manual
of the 276C it looks (to me) as if the 276 does not just provide the
coordinates to the radio but ALSO receives coordinates from DSC mayday
and position reports FROM the VHF radio and then generates a waypoint
at the position.

However I didnt know that DSC works that way too ...

So imagine this: You receivce a DSC mayday (or position report from
your buddy) and the GPS generates a waypoint at that location. That
would be a pretty intersting feature,

Matt