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watch out for refurbished units sold as new
At least one dishonest Amazon vendor (Buy Accessories) is selling overhauled/refurbished units as new. Play it safe and only buy from Amazon itself.

Other than that, it looks great; have not used it yet. Buy a USB emergency battery charger for longer trips. APC has several good ones:
http://www.apc.com/products/family/index.cfm?id=314&ISOCountryCode=us

Domestic Bliss
This is the second Edge 205 I have purchased for my wife. The first one quit taking a charge after about 1.5 years and to maintain domestic bliss I bought another for her. She really likes it and uses it on her rides several times a week.

The biggest drawback is the battery. The unit is sealed so it cannot be replaced by the user, and with regular use any battery eventually fails, not matter what the technology. No doubt it is just a variation on a cell phone battery, but apparently the Garmin strategy is to make you buy a new unit rather than be able to replace a $15 battery.

For my wife's happiness with the product functions for the price I give it 5 stars. For the battery ripoff by Garmin policy, I give it 0 stars. So my ROUNDED UP average score is a 3. They don't have any competition I know of so they get away with it. Buyer beware.

Sketchy Performance as a Cycling Computer
I used this GPS/computer for a year and would not rate it very highly for price versus performance. Its good points: trivial to move from one bike to another (I've even thrown it in a back pocket to record a workout), reasonable accuracy for distance, though complaints in other reviews about altitude are completely valid (it still can't decide the altitude of my house within 50 feet). It provides lots of data, though much of it unusable (why don't they have a text file format so that you could load data into a spreadsheet?) unless you join an online web site that can make it more useful. The bad: altitude inaccuracy mentioned earlier (forget getting accurate road grade readings), lousy software with it with no data manipulation capability, and poor battery life: claimed was 11 hours, but I found that I could only get 6 (and I was careful to follow all directions for charging). Finally, the most annoying thing was a tendency to short out and shut down on rough roads. It was unpredictable-sometimes I could go over cobbles with nary a problem, but a small shock would make the display disappear. Maybe the more expensive models are better, but I would not recommend the 205.

Great Stuff
This is the best gadget I ever bought for my bike. It allows me to go riding places I never was before and still feel a "local".
The original Garmin software realy sucks but the internet is full of tools you can use to load your Garmin Edge with pre-defined routes. Cool stuff

Excellent GPS Cycle Computer for the Price!
I was a little concerned about trying the Garmin Edge 205 after having read some of the critical reviews. But, I went ahead and tried it since the price was so appealing. I am VERY GLAD I did!! The only thing I have to agree with the critical reviewers on is the calories burn estimation is WAY OFF (it estimates about twice the calories burned as my Polar Heartrate Monitor says I burn). Otherwise, this Garmin does EVERYTHING it says it will do! I have found distance & speed to be right on with my Cateye Wireless Strata. It is cool to be able to see how steep a grade I am riding at the time. And, the Virtual Partner alone was worth the $157.00 I paid for it!
For the record, the critical reviewers that claim they can't get the cover back on the USB port just haven't tried. It goes back in EVERY TIME in 5 seconds or less! The Garmin Training Center coupled with Google Earth is REALLY FUN to use as well.
All in all, I HIGHLY RECOMMEND the Garmin Edge 205 @ $157.00 or less!!!!!