Treated myself to a Garmin 305 in Jan 2010 as a b'day gift. Love it. I like that it tracks my location and vitals, and I can upload all that good stuff. It makes it easy to keep track of my rides, and I've programmed in a few training intervals and routes. For the most part, all that works well.
The device is much less useful as a general purpose GPS and useless as a car navigation tool. In the woods it would be far better than a compass in most instances, but other products are better suited to that use.