I know I'm coming into this a little late but I thought I'd add my two cents in.
If it's something you want to try then go for it!
I think if you want it for hiking too, then you might want to spring for something more updated.
I have a Garmin eTrex Legend, which I absolutely adore, but there's a lot it just doesn't do. I got it for hiking and it's been great for that, despite its lack of maps. For some reason, mine didn't come with any cables at all, so I had to buy them. The cable for that unit is a 9-pin cable and my laptop doesn't have a 9-pin port. So I had to buy an adapter to turn it into a USB cable. And my laptop wanted something to install and it didn't come with anything to install, but the laptop found something to install and everything is peachy (I just have to remember whatever it was I did in case I ever get a new laptop!).
I only tell you this because if it's a slightly older unit then you'll have extra hoops to jump through (and perhaps for that price the extra hoops are worth it). Mine works just fine and I can transfer caches to the unit and do whatever. It does well with caching if I'm not too close to a canyon wall (which seems to be an issue no matter what device you have) and I've used it religiously while snow shoeing. It just required some extra stuff and some extra figuring out (but hey, I figured it out by myself and while not computer illiterate, I'm not a computer geek by any means). You can also go to Garmin and register a device and if you can hook into a computer, then you may be able to get an update for it. I don't know what good the updates do because after a while they stop offering updates for older units, but whatever.
Gather some information on the unit in question, compare what it does to what you *need* it to do, what you *want* it to do, and whether or not that will be suitable. If you can return it and it sucks, give it back. If you like it, awesome! It sounds like it's cheap enough that you could pick up another one later on that you'd like more.