Cheap gps

I'm looking for a cheap GPS to track distance, I'm not to worried about hr.
I've seen some garmins and timex on eBay for around 150 bucks.
Should I keep my money? Is it only worth getting a 310xt etc that they say are truely waterproof?

Try the nike watch. My wife uses one and it seems to go ok. It appears to be more waterproof than my garmin. Down the track if you can add a polar HR strap if required. Much simpler than the garmin, but with similar functions and you download the data on your pc.
If my garmin gives up on me I will probably get one.

I use my phone in a waterproof case, cheap if you allready have a phone with gps.