Loon,
I take my Garmin GPS (Venture) out running with me sometimes. It doesn't have a stop watch, but it can show you current speed, average speed, distance covered, trip time, eta to waypoint, direction of travel, navigate to waypoint..... the list goes on. I bought it because I wanted a GPS for orienteering (fell running) and also liked the idea of being able to go running off road in a unfirmiliar place with the reasurance of not being lost. That and the fact it can show me speed and distance during a run won me over. The other thing I would say is it does measure slightly under distance due to loss of signal when in woods and tall buildings (needs a clear sight of the sky). When the signal is lost it assumes a straight line of travel was made between the current location and the last known point. Garmin make the unit used by the Timex watch.