I can get a Garmin eTrex legend for about 100 pounds, will it suit my needs or is there something that is better value?
Yup, it's what I use for Audaxing, it got me up to Edinburgh flawlessly (using only 250 of the available 1000 route points) along with almost every other Audax I've done.
Garmin eTrex (as long as it is v3 firmware, v2 is limited to one route of 50 routepoints) plus bike mount plus cable (£20 for a Prolific PL-2303 based USB to Garmin cable from eBay) will come to roughly £100. Buying from a shop will pretty much guarantee you a v3 eTrex. Buy the eTrex 2nd hand from eBay and you might get a v2 (you can always ask the seller to check the firmware version).
Takes AA batteries, two 2700mAh batteries lasted me over 40 hours.
It works with a Mac with a bit of coercion (I can upload/download routes and tracks from my PowerPC Mac Mini). It's not as simple as appearing as an external drive.
It'll tell you whatever you program it to tell you. Take this route:-
Bicycle Path - LE3 at Bikely.comAt the start (B&B in Alston) it points me to the first waypoint down the road, the waypoint is named "C1 L" to tell me to turn left, the distance to the waypoint counts down, it's obvious that I need to turn Left at the T-junction. As I approach the junction the arrow (that has been pointing forwards) swings to the left. After I take the turn it moves on to the next waypoint (C2 R) and says that it's 400m or so away. The distance counts down, I see a turning on the right that coincides with the remaining distance, as I approach it the arrow swings to the right.
(The reason behind the odd naming scheme is that the point names have to be unique and you only have 6 characters to play with. The 'C' was because it was the third route (A got from me Putney to Thorne, B from Thorne to Alston and C from Alston to North Berwick.)
I keep following these instructions, if I go wrong it's reasonably obvious from the arrow. If a road is closed I make a guess at an alternative and try to get back on course, it generally points to the nearest point (unless you've just passed it).
If you want mapping then you'll be looking at 200 quid minimum (or 150 quid if you take a gamble on the non-complete coverage of OpenStreetMap).