I have a Suunto 10x GPS watch which can be used for geocaching. Once you take the time learn how to use it, you will learn that you can rely on it to be very accurate. To locate a cache, you create a waypoiint with the coordinates of the cache. Once you have a GPS signal lock, and the waypoint loaded, you will navigate (as if you were using a traditional compass) to the cache.
This way of navigating is different from the graphical representation of your position and the cache's position on the screen of a hand held GPS. The Suunto 10x will give you a distance countdown to the cache and a compass bubble (either solid fill or empty) to orient your direction of travel. If you are traveling less than approximately one mph (compass bubble empty), you will need to stop and let the compass bubble settle before adjusting your direction of travel. Otherwise (with compass bubble solid), you can navigate while on the move.
I am having a lot of fun with mine.