I would put color in the "nice to have but not essential" category, but it is unlikely that I would buy a grayscale GPS because by the time you get to that price level the unit is missing other "must have" capabilities. That's just how the price/feature set scale works.
What is essential for extended outdoor use is a transreflective display, so that you are not trying to overwhelm sunlight with battery-hungry backlighting. Most true outdoor GPS units feature this display type, while many multipurpose or portable automotive units rely on backlighting.
Having looked at the current crop of Garmins that step up from where my GPSMap 60C was when I bought it. I don't care much for features and pricing, nor map pricing, so if I had to replace the GPSMap 60C, I would likely buy DeLorme's Earthmate PN whatever model is current. I like DeLorme's maps, and the other displayable data, and capabilities are very close to what I'm accustomed to using.
A big difference between using a good outdoor GPS, and the GPS in a phone or portable auto navigation device, is that the outdoor GPS uses as many satellites as are available, evaluating them statistically and telling you how well it is doing, while the phone or auto GPS will use the minimum number required for a fix, then put you at the nearest place it expects you to be (where the map data has placed a road, e.g.) and tell you lies about accuracy. It doesn't have fixes to enough birds to estimate error in your location, which changes constantly over seconds but averages out better over minutes and hours. Geocaching often requires the better understanding of uncertainty in the whole GPS system.
DeLorme PN-60 is current, at $300 it is a bargain compared to GPSMap 62st (for removable storage and included topo maps) at 50% more. Closer to your price range I recommend Etrex 20 which improves on capabilities of my 10 year old GPSMap 60c for about half the price. Can't recommend Etrex 10, not because monochrome, but because it lacks removable storage, meaning you would have to load map data piecemeal. 100K Topo maps for Etrex cost $99 putting total into DeLorme PN price range, larger scale maps, 24K or better, are $99 to $129 per regional set for the U.S. Over the years, I've paid Garmin a lot more for maps than for hardware, but a lot of that has been for outside the U.S. where royalties are higher.
No matter what people claim (6 inches ?) the accuracy for an instantaneous GPS fix on the best of receivers is <15 meters GPS only, <2 meters augmented by WAAS for 95% confidence. Many vendor quote much smaller numbers using 50% confidence, flip a coin, is it right or not? This gets narrowed down statistically by occupying a site longer, and improved by differential GPS where two receivers linked together are reading the same birds at the same time. One is on a known location, one on location to be measured, and GPS is measuring the vector between, which averaged out over hours or days, can be confidently measure to millimeter scale.
Most caches are hidden in places that become obvious at the 2-15 meter range. But not always as obvious as the clue box on Amazing Race.
Tom Test
Itasca Spirit 29B
