I've had nearly five years very good service out of my 305, but having recently lost my HR strap (left it at a race I think!) I've decided to finally upgrade. Have been reading this post with interest and I think my options are narrowed down to the 410 and 610. Money-no-object I'd definitely go with the 610 but it's a LOT of money.
Main advantages of the 410 over the 305, for me, from what I've seen are:
- smaller, more comfortable. Not fussed about wearing it as a casual watch but the clunky 305 was never entirely comfy on my bony wrist.
- improved satellite reception (clever GPS that locks on to satellite reception in your usual locations more quickly)
- improved HR strap (I'm often frustrated that I can't record a true max for an easy run for example, because the 305 obviously thinks that one of the earlier spikes is a true reading)
- more sophisticated interval training options - you can mix up 'distance' intervals and 'time' recoveries, right?
I've got a big birthday coming up, so I may just put up both options of the 410 and 610 on my wish list and see which one my well-to-do bruv wants to get me. 
Edited: 03/05/2012 at 13:15