Problem solved by performing a Hardware Defaults Reset as recommended by Armen.
Apparently, I had horribly misconfigured some ALEOS reporting or notifications while trying to learn about the GX450 & ALEOS and reseting to defaults cleared up the problem.
I now see GPS fix updates at about 1Hz and no more delays in Lua script processing.
My recommendation is that after wildly messing up the configuration, just reset to Hardware defaults and start over. Spare yourself the troubleshooting effort.
Thanks for the help!
Regards,
Paul