For hiking or outdoor use when I also want to navigate, I use my Garmin GPSmap 76CS. When I'm doing a short hike from my car, I use my nuvi 265W (but the battery is rather limited, so this is not a good option for >1-2 hours). However, my preferred device is now a QStarz BT-Q1000XT data recorder. It can record for ~40 hours, but the batteries last much longer than that because it shuts off when it doesn't detect motion. The geotagging SW it comes with works okay, but is a bit obscure -- and the dialog box to control the device settings is too big for a netbook. The logged data can be exported in a number of formats though, so any number of products can use it.
What I like about the data recorder is that it just records the lat/long: I don't need to buy maps for it. For a three-week vacation in the UK, it recorded flawlessly, and made it easy to geotag several hundred pictures on two different cameras.