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The Princess gave me my first GPS, a Meridian Platinum, in 2001.  If you can afford only one GPS, I recommend the MeriPlat.  The ability to store information on a Secure Digital card is well worth the added expense.  If the compass and barometer/thermometer (which I find useless) are not desired, go with the Meridian Gold.  This GPS travels with me in my vehicle every where I go.
I wanted a smaller GPS and found a great deal at Amazon.com.  It's amazing how much money can be saved purchasing online.  The SporTrak seems to acquire satellites faster than the MeriPlat and it easily fits into a pocket.
I was playing around one night on Ebay and placed a rediculously low bid on an opened but never used SporTrak Map.  Imagine my surprise when I awoke the next morning and found I was the owner of a third GPS.  This is my workhouse GPS which I have found incredibly accurate and reliable.
After spending  a week in Virginia Beach unable to access Geocaching.com, I had to get a laptop.  I purchased a used Dell Latitude CPx.  Now I can have GSAK at my finger tips to download waypoints to my GPS as well as access Geocaching.com to update my caches.  While not a necessity, it's nice to have!
Once I discovered GSAK, I pulled my old PalmIII out of mothballs and began using it to store and carry electronic cache information.  The one megabyte of memory limited its usefulness, especially when using both CacheMate and Plucker so I purchased a used PalmIIIc on Ebay that came with both the home and vehicle charger.  The 8 megabytes of memory provides plenty of storage.   I still use my PalmIII for smaller files and can easily beam files from one to the other.
Anyone who geocaches a lot should consider purchasing rechargeaable batteries.  Do not purchase them at a local store as they are TOO expensive.  You can find great deals at www.batteryspace.com.  Also, do not throw away expended  AA batteries form your digital camera.  I  have found that they provide many hours of life for geocaching.