The conclusion is that the high-end machinery is not strictly necessary. But after having done a few multi-cache routes with the new GPS receiver, we find that it's more relaxing. At least to me: I get irritated when we walk in the wrong direction, or when we can't find something. With the maps, the improved reception and the built-in compass, that just doesn't happen anymore.
Luxury. I like it. Especially when it comes in handy portable high-tech packages.
(And with the maps, I can finally provide a more useful answer when asked "Where are you now?" if I get called in the field. ;) )