I have made some tests with gsmmud daemon with good results.
Downloaded and recompiled alpha-3 version from
http://developer.berlios.de/projects/gsmmux/ without problems in Ubuntu 6.06. Just one minor issue, the makefile provided has a small bug but if you download it from the SVN trunk it's been fixed.
Started the daemon with the command:
Now I have three virtual serial ports (/dev/mux0, /dev/mux1, /dev/mux2) where I can send AT commands to the modem.
Everything seems to work properly with a Wavecom GR64 based modem (I had problems with Telit GM864 but not tested a lot). I have opened a CSD data call in mux0 and sent/received SMS at the same time in mux1 without problems.
The mux seems promising and should be the right solution to use SMS Tools and GPRS connection at the same time.
I did not have the time to test the mux with SMSTools, but it should be just a matter of changing the setup and I do not expect problems. Also, I do not know anything about reliability of the mux daemon. The authors say that it is far from complete, so probably some testing/debugging is needed before using it in a production server.