if my second test was any indication, no. I went and got a multi card reader and tried to employ the toshiba sdio card, but it didn't work either. i do not have another device and if i had more wherewithall i would have tried the sdio card in something else to see if it was the card or if it was the computer. toshiba is very lame on the issue and states that it is either you don't have bluetooth or the card is faulty.
i should have tried it in some other device like a pocket pc to see if it would work to confirm that it was either compatibility issue or that it was a defective card.
i also bought a CF+ pc card adapter that you suggested, but the software didn't include windows xp, so i could not test it. I'm not sure if there is anything particular to the CF pc card reader that would make it work, though, in the 700m. unless you have cf card, i don't see the need to go with it versus a bluetooth pc card. plus, less moving pieces is better in my mind, especially when the card sticks out.
you can test one by just going to like fry's or compusa or someplace that has a return policy and test it out yourself i got tired of going back into fry's testing stuff out in my car and then returning it.
i have a bluetooth pc card on the way. the 3com 3CRWB6096B (note the B as the none-b model is old and suffered from connection issues from what i'm told...ebay lists the non-b versions. you will see the current model listed as NO GOVED which means no govt or education sales nothing to do with the card). i don't see why a bluetooth pc card would not work. so since i had to pay $100 for the thing, i'm hoping it will work. the great advantage about the pc card is that it stays flush and the antenna is retractable (Xjack style) when not in use (haven't read lit on it, so i don't know if it works without deploying the antenna...don't see why it wouldn't for mouse use purposes only).
i opted to go with the 3com over the Zoom 4312 b/c the 3com looks to be flush versus the Zoom sticking out very little. both have retractable antennas though. Zoom costs half of the 3com. the other pc cards out there stick out which i did not want. I've read mixed reviews about Zoom products, but mostly from 2002/2003 time frame, so i cannot determine if it is a good product or not. The Zoom costs less or about the same as a CF bluetooth plus CF pc card adapter. like i said, the Zoom and 3com made my list b/c of the none to very little protrusion of the card.
i'm hoping to get the 3com by friday, or monday at the latest.
this iogear mini bluetooth 800dpi mouse is great, but it is a bit narrow for my hand...i am waiting for the bluetake BT510 to come available within the next two weeks to get it as it is slighly wider, has usb chargable cord, on/off switch, and 800dpi. i'm still torn though between it and the anycom btm-100 which has the same features, except that the charging cable is more like a cradle which i'm not sure that i like. the great thing about the iogear is that it has usb to mini usb cord which is the same cable i need for my motorola RAZR which means i wouldn't have to carry two types of cables, but the thing is a little too narrow and not for whole day use.