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Cobra 500 has its problems, but...
We have had problems similar to the ones that many of the other reviewers have had with their Cobra 500. The first unit we had worked marvelously for over 10 months. Then one day while hiking my wife pulled it out of her coat pocket... Dead. She contacted (phone) Cobra service. They suggested to send it back in to them. It would be repaired or replaced. Three weeks we received a new unit. This unit was used simultaneously with a friends Cobra 500 on a hiking/geocache trip. The discrepancy was startling. Although we were standing nearly side by side the two units show a difference of over 500' from the cache site and the compass arrows were off by 31 degrees. After further testing we found out that our new "replacement" unit was the one that was in error.
Another call to Cobra and another bad unit back to the shop. We received out third Cobra 500 via FedX three weeks later along with a sheet from the technician tell us that the old unit could not be repaired. Therefore, they were sending us a replacement unit at no charge. Now understand, we were out of the original warrantee period by over a month. (This is the reason for the 2 stars.)
We immediately went out on a multi geochache hunt. Four finds in 2-hours. This third unit is the winner: acquires satellites within 30 seconds, updates continuously, and is accurate to within 10' of the stated geocache's Lat/long.
Do I like The Cobra 500? I like the third one. ( I just hope it lasts for a few years of heavy use.) Would I buy another Cobra GPS unit? No!!! Absolutely not!!!

To Cobra:
I have used your CB radios for over 30 years. Professional truck drivers convinced me that your radio products are the best. I agree with them. Your Corbra GPS model 500 left me with a bad feeling for your product line. In a little over a year you have reduced my positive feelings about your products that I have had for over 30 years. I feel like you submitted a product to consumers well before you should have place your name on it. I do not appreciate buying a "beta" unit when your advertising stressed the advanced technologies in your product. Your Cobra 500 was supposed to be faster and better than your competition. Maybe the third unit has those attributes.
Time will tell.

One star is still to high!!!!
I was lost in the woods, due to the Cobra500, since it is unable to lock on any satalites, when a skunk tried to attack me. I threw my Cobra500 Gps at it, sending the skunk away. And it worked. Maybe this GPS is just a skunk defender tool of some sort. Because as a GPS it is really skunky. Seriously, This product should have never been sold to the public. It is faulty in all aspects. Stay away!! Buy the Etrex

The Worst Ever
My parents got this for me and it does not function at all. It is completely worthless. I spent many frustrated hours trying to get it to work. I'm sure it took a few years off my life.

Too Good To BE True...it Ain't
The bargain GPS I got seemed to work fine on the trip home from town, except the build in maps only list major roads.I spent the money on the interface cables, power cable and mapping CD roms only to discover that the 500 will not allow map detail information like roads to be uploaded! What then is the point? I wanted to be able to download the routes and use them with maps. The software is horrible compared to Microsoft or Delorme.
Save your money.By a GPS package for your laptop or get a middle priced Garmin or Magellan! I understand why I got it so cheap. I got what I paid for. Just wish I hadn't spend money on the accessories!

It works brilliantly as...
The unit works brilliatly as a paperweight to hold your map in place so you can orient by compass. First time out with the GPS as our guide, we stayed lost for 6 hours. Stupidity on our part to be sure --- for getting lost in the first place AND for thinking the Cobra 500 would do a lick of good helping us find our way. If it locks, look fast, it's going to lose the lock. If you are fortunate enough to actually get it to lock long enough to establish a waypoint or 2, it may decide to wipe them out for no reason we could find. I wonder if Cobra became passive-aggressive toward the public after the CB died? This unit could not have performed to any appreciable standard in pre-release tests, so why did Cobra release the thing? I'd really like to know. Then again, I think the company headquarters is in southern Arizona. How could one get lost in southern Arizona when all you need are binoculars? Perhaps, but only perhaps, this unit performed to someone's idea of a standard when they could eyeball their way home.