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Buy the GPS that meets your needs
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Like most electronics the path to getting a great deal on a GPS device is simple: the fewer the features, the lower the cost. The key is to figure out what you really need and try to buy a model with just that. After all there's no reason to pay for something you don't need.
The first step is to be honest about your likely uses. If you think you'll be a casual user who just needs a little help getting from here to there once in awhile, then a simpler (and cheaper) GPS will work. Stick with a model that's $100-$200 from a well-known brand or that has gotten good reviews.
However, if you're a serious traveler who'll be using the GPS frequently, traveling internationally, camping deep in the woods or hitting other places that are 'off the beaten path', then you might want to consider a higher end model (that can cost $500 or more).
Keep in mind that adding each extra major feature (such as bluetooth compatibility, traffic updates, or street name announcements) can add $20-$40 to the GPS price tag (based on price comparison of otherwise similar models). If you keep your GPS for around 3 years before upgrading, then you can save around $20 per year by avoiding paying for two unnecessary features.
Generally speaking, you'll be better off avoiding new innovative features until they become more mainstream. Since the bugs haven't all been worked out, you're more likely to be disappointed in the performance of a first-generation technology. Also, GPS devices are harder to upgrade than some other electronics.
If you need some additional direction, check out Consumer Search's reviews of handheld GPS and auto GPS devices.