I love me a GPS watch. While they’re not quite as exciting in practice as they are in theory, they’re still great for exercising and keeping yourself on the right trail. I’ve thus far only used Garmin models but I’m quite excited by this new Timex watch for $275.
The Timex Ironman Global Trainer costs $275 and includes a SiRF Star III GPS receiver and supports up to 100 GPS waypoints. For $50 you can get a heartrate monitor. The watch is 50m water resistant and pretty beefy.