I am quite active with it during the warmer seasons. I enjoy getting out for a day and exploring. I usually clean up anything within 5 miles of me, then just sort of pick an area, and head there for the day.
I usually carry my 3-day pack with me, or, at the very least, keep it in my jeep. I have enough in there for an overnighter, should I feel inclined. Plus, I usually have my psk on me.
I also use a garmin 60cx (similar model, just no compass), and love it. I am so used to it, I wouldnt trade it for any other model. When/if this one dies, I will likely pick up the same model, even though there are newer models out there.
My experience, at least where I live, is that most caches are no more than a couple miles from a parking lot. This would preclude most folks from carrying anything more than a daypack; I sometimes downsize my gear to fit in my MULE. It really depends on my mood, and the weather.
As for doing it with a map & compass; I have only known a few folks that have done that to any extent...and my hat goes off to them. That is a great way to brush up on your land nav skills. Me, I'll stick with my GPS...I get too frustrated as it is sometimes, just searching the RIGHT area....