I don't know about the new Garmins, but i just bought a 301, and I love it. I mostly use it to monitor my heart rate (my doctor is happy about that) but I also love how it helps me keep a steady pace. I found a good deal (£140) on a site that I've never heard of
http://www.youpriceit.co.uk but I'm really happy with how they handled my order, so I'd recommend them.
I'd like to start using the GPS function to get full use out of my new toy, so I'll be back for more help on that later.