Thanks for the answer Izzy.

Some of our uses are the same. I used to use the waypoints quite a bit to record discovered locations and features that were not on the maps, and then write them down in my notes and on the map itself.
I also used it for setting destinations from a map with a chain of waypoints to get there.

The most useful thing to me is still the ability to get an accurate position fix when I need it.

I try not to start relying on them too much because electronics always seem to fritz out on me just when they are needed the most.