First, I choose UTM rather than the various forms of Degrees, because it offers the smallest distance you can express. Now to the main question.
I am convinced the Internal Precision of the device is better than what you can enter from the outside world.
Under Units, make sure Statute is selected.
Ideally, your Projected Waypoint is in whole degrees. Select Ft, rather than Miles, while on the Projection screen.
Now, you can express the distance in feet as xxx.xx. For example, you can say 127.35 feet at 088 degrees.
I am able to be within 0-1 feet for the many survey points on my property when comparing the GPS distances with the survey drawing distances.
Of course, you must establish the GPS provided starting point carefully, and Average the location many times. Then you can begin projecting your way points with more confidence.
Trimble offers a free Planning utility where you can see the hourly DOP (Dilution of Precision) for your exact location. Select the very best times to take your initial base reading.
Bill
Tecumseh