I have a Garmin 910XT which is a tool useful for triathletes as it has swim, bike and run functions. It probably isn't the device for you, but like all of my Garmin experiences, they are absolutely awesome. I have had a Cateye Wireless in the past, but it doesn't compare to the Garmin. With the speed and cadence sensor I can not only use the device on the road, but also on the trainer. I will never buy anything other than a Garmin. Maybe one day when I'm rich and famous I'll buy an 810.
I just picked up a Cateye Velo 7, and I returned it the next day.
There's no way to set the odometer. The comp is completely useless to me. I can't even believe that someone sells a comp without this basic feature. Apparently this is standard with Cateye comps. Even $6 ebay specials allow you to set the odometer.