Love my 305. That's why I got a 705. No complaints here. I had a Polar CS200 before the 305 and it did the job, but not as well as the 305 IMHO.
I've read about some people having some issues with their 305. Remember, you are going to have a few duds in every batch of electronics that come from any manufacture. It amazes me to hear that 12 hours of battery is not enough for some people. Who wants to ride for 12 hours straight? I can see that being an issue for people out on the road with no charging source. I don't think that applies to the masses. And if you do fall into that group, there are portable charging devices.
I'm selling my 305 on ebay if anyone is interested. Comes with a new cheststrap heart rate transmitter. Item # 110269813602