"Bud_of_yours" wrote:
The plane is equiped with a KMA-24 audio panel with markers, KX-155
w/KI-209 nav/comm with glide slope, KX-125 nav/comm, and a KT-76
transponder. I also had pitot heat installed during the prepurchase
annual/inspection.

That sounds like a limited, but pretty typical GA IFR panel up until GPS
came on the scene and changed everything. More typically, you would have
had an ADF too. The next step up would have added DME.

According to my instructor I can get my instrument ticket in the plane
as equiped, however in order to be a more well rounded instrument pilot
I really need to add an IFR certified GPS to my panel.

I would agree with him for the most part, but that doesn't mean you need to
run out and buy a GPS today. IFR training is about several things:

1) Learning how to hold heading, altitude, and airspeed within carefully
controlled limits. You need to be so good at this that you can do it half
in your sleep. This has nothing to do with GPS.

2) Learning how to work in the system, i.e. interacting with ATC,
understanding clearances and procedures, knowing how to read the various
kinds of charts, maintaining situational awareness, etc. This has nothing
to do with GPS.

3) All kinds of regulatory stuff like alternates, minimums, currency
requirements, required equipment, etc. This has nothing to do with GPS.

4) Knowing how to use specific navigation technologies. This is where GPS
finally comes into the picture. With the equipment you have now, you will
get a good basic foundation in the use of VOR navigation, which is still
going to be useful to you. Certainly, you will be spending plenty of time
practicing ILS approaches, which aren't going away any time soon.

Question #1. In order to get my Instrument ticket tucked safely in my
pocket do I really need to be concerned about learning GPS approches,
etc.?

Absolutely not. Get the rating with the equipment you have now and learn
the basics. At some point in the future, you will undoubtedly want to move
up the GPS, but there's no reason you have to do it now.

Question #2. If I do decide to add a GPS to my panel what is the
best/least expensive way to do it. GNS 155XL? KLN-94?

"Best" and "least expensive" really don't belong in the same sentence :-)
A quick look at ebay shows lots of used previous-generation IFR panel-mount
GPS's going for $1-2k. Add to that installation costs and the cost of
maintaining a database subscription (another few $100/year). But, if, as
you say:

I don't plan on keeping this plane forever. And I don't want to invest
a ton of $$$ in it.

It may not be worth it. Adding something like that to the plane won't add
much, if anything, to the resale value.

At the "best" end of the spectrum, adding a high-end unit like a
GNS-430/480/530 will be more in the $10k range. But, first get the basic
rating and use it a bit. Then you'll have a better understanding of what
the issues are and what you needs are.