First of all I would like to thank Chris for allowing me to post my Civil 3D reminders here as well. I have referenced Chris' blog countless time to help me remember labeling ideas, routines, etc.
Properly set the current drawing units and coordinate settings, located within the Settings tab of the prospector. (i.e. Where in the world are you or where were your points shot?)
Yep, it's that easy!
Alternatively you can import your points from your handheld GPS unit using a drawing that is setup for Lats and Longs and then "Export" using the "Point File Format" that you created above.
BAM! You now have a point file that is on the coordinate system that corresponds to your design coordinate system.