I've heard that many handheld GPS's are not completely waterproof and don't stand up very well to continued exposure to saltwater, so I would forcus on the true waterproofess of the unit above all else.
I have the humminbird 385ci combo sounder/gps and it's freakin awesome.
I see the advantage of getting one for mutiple uses though, so just be careful about using one on the water.
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