I see a GPS as an essential part of my lost-prevention gear. Still, I ALWAYS recommend that bring (and know how to use) a compass and a map of the area.
Consumer GPS's come in two basic forms:
Basic GPS, that provides location coordinates, stores waypoints, and uses that information to provide bearing direction, routes, speed, etc.. A GPS has the amazing ability to tell you where you currently are on Earth. At a minimum the user needs to be very good at entering waypoints of interest so they can understand where they currently are relative to some know location(s). Even more preferably, the user should also have paper maps and know how to use the GPS to identify the current location on the map, and vise versa.
To learn how to with a GPS and paper topo maps together go to
http://www.maptools.comMapping GPS, that provides the same capabilities as the basic GPS PLUS comes with some level of map detail that includes roads, cities, trails, etc... The real power of the Mapping GPS is that a user who knows little or nothing about using paper maps can determine where they are relative to the electronic map, they can determine how far they are from features of interest, and some Mapping GPS's can even provide road-routes for driving directions to a given waypoint. My Garmin GPSMAP 60CSx even provides phone numbers for businesses (handy for calling ahead to hotels).
While describing his "10 Essentials" for survival Doug Ritter listed a mapping GPS w/ spare batteries as his first item, and then went on to also recommend:
1. Navigation - a mapping GPS w/ spare batteries, or secondarily a map & compass, and the knowledge to use them together
2. Knife - one-hand opening
3. Fire starter & Tinder
4. Water & water purification
5. Whistle
6. Signal Mirror
7. Duct Tape
8. Shelter - large garbage bags or AMK Heat Sheets blanket
9. Flashlight or Headlamp - LED, lithium battery, with constant-on switch
10. Sunscreen or Insect Repellent
11. Personal Locator Beacon (PLB)
You've heard of 13 being a Baker's Dozen ... this is 11 being a Ritter's Ten.
I really like his list. The mapping GPS helps you from becoming lost. The PLB can call for help as a last resort. The knife, fire gear, water gear, duct tape, shelter, and sunscreen, and bug dope help you surivive until help arrives, and the whistle, signal mirror, and flashlight allow you to get the attention of rescuers both day and night.