I use a Magellan Triton 200, and I am able to geocache very successfully with it.
I have no problems using Magellan's software 'VantagePoint', and am able to import hundreds of geocaches and waypoints at a time, using the .gpx results of 'pocket queries' that are emailed to me.
I just returned from a short vacation, and had no problems finding micro-caches in the winding backroads of the Smoky Mountains, some 750+ miles away from home. (I did notice that the remote locations were causing the unit to frequently lose and regain it's signal, but it never became an issue nor slowed me down in the least.)
With no frills, bells, or whistles, the Triton 200 will give you the basics -- and absolutely nothing else.
I purchased mine six months ago at Wal-Mart, and, if memory serves I belive I paid $120 for it. I'm fairly certain it was the lowest-priced handheld GPS they had.
The image is bright, the basic background map is clear, and the data seems to be accurate. (Most of the time.)
BUT -- that doesn't mean I love it.
'User-Friendly' is definitely NOT a term that comes to mind when I think of words to describe the Triton 200.
After using mine for six months, I still find myself constantly pushing the wrong sequences of buttons.
Certain navigations are remarkably inefficient --
For instance: Let's say that I want to read details of a geocache that I can currently see on the main map. One would think that you would be able to hover over it and double-click for info... Not so... rather, you've got to leave the main map by hitting Menu > Go To > GeoCache, then you've got to find it on a list (or even sort the list again for 'easier' locating)... well, you get the picture. It's ridiculously clumsy. And to complicate things further, there is a separate 'GOTO' option that has a completely different function then the previously mentioned 'Go To' option... Confusing? You bet! )
It's accuracy also seems questionable at times -- Unfortunately, I can't grade too harshly on this -- I've not had the opportunity to use any other brand or model, so I have nothing to compare it to. This may, in fact, be an inescapable quirk that other GPS systems suffer from as well... I don't know... Let's just say that sometimes the readings are RED HOT, and other times they're... warm... or luke-warm... or luke-warm-ISH... and a few times I've just disregarded the readings altogether and simply relied on 'GeoSense'.
All in all, one can use the Triton 200 to have a LOT of fun Geocaching. As a newcomer to the hobby, I've used mine to find over 200 caches so far over the past six months, and I plan on using it to help me find a lot more.
BUT -- I just can't bring myself to give this unit a completely positive review, and I would hesiate to reccommend it to others.
Yes, it's inexpensive... but it's also rather non-intuitive.
I would suggest trying out different brands and models, and perhaps paying a little more for an interface that's a little more graceful.