The family and I are fairly new to geocaching as well, so for what it's worth: Money was not really an issue, but we decided to go on the cheap side because we weren't sure whether we would like it or not. (Yeah, I know...) So my wife bought me a bright yellow Garmin Etrex last weekend. I have nothing but good things to say about it! Long battery life, good sized screen, one hand operation. We've already found three local caches, (one was a bear!) and we're planning on taking it to Kentucky with us over the Thanksgiving holiday to do some caching down there.
From everything I've read, it's hard to go wrong no matter what you buy. But you will, of course, run into "Garminites" and "Maggies" everywhere you go, but truly: As long as its got 12-channel capability, you're not going to be disappointed!
(Here's a free tip I learned the hard way. When you get out of your vehicle to go bushwacking, drop a waypoint WHERE YOU LEFT YOUR VEHICLE!!!)
Good luck and happy hunting!
Dave of Team Flashncache