Forgive my ignorance if I show it here but, it sounds like the Cateye Stealth 10 is the best bang for the buck, no?
The Edge 200 apparently doesn't update every second, while the Cateye does. And they're both around $100 with the Cateye coming in lower most of the time.So I see that is a clear winner.
Coming from running I have a Forerunner 305 on my wrist. At the time I bought it it was the exact same as the 205 except w/ heart monitor. I've NEVER used HM on my 305. I say, lowest common denominator, FTW!
P.S. And, btw, how do these wireless units measure cadence?? (or is it half @$$ed & not so accurate)