I'm a newbie and don't know **** from shinola about cycling... except that the Edge 705 I bought last month - extravagantly expensive as it was - has turned out to be incredibly useful and incredibly motivating. It painlessly captures everything and painlessly plugs it into the database on your computer. Not to mention routing and finding cool roads and not getting lost and all the other cool things about GPS's.
Yeah, definitely look at the Edge 305.