Whenever I go into maps and choose 'My position', it just displays the blinking red dot with 'Searching for position', but never really finds me. It doesn't matter whether I am inside a building or outside, the searching just goes on for an indefinite amount of time.
Basically, this renders the GPS function pretty much useless.
Which positioning methods have you enabled? Goto Settings>Application settings>Positioning>Positioning methods to check.
You can speed up position fix by enabling Assisted gps, network based and wifi but you may incur a nominal data charge.