I'll comment more when it has enough battery life that I can experiment with it, but I have to say that the little bit I got out of it before the LOW BATTERY warning came up is pretty damn cool.
I've got it plugged into the computer to charge now.
It turns out that if you select "Where Am I?" the coordinates displayed on the screen will change as your location does, which means the only reason you can't use this thing for geocaching must be that it has about a 3-4 hour battery life.
The specs said it had an SD card slot but it is in fact a Micro SD card slot.
When plugged into the computer it shows up as a flash drive with about 1GB worth of space, of which about 716 MB are free. You can't do anything GPS-y with it when it's plugged into the computer, but at least it charges the battery while the thing is connected, so WTF.
It'd be neat if you could use it as a GPS while connected. Maybe someone has written a program that lets you read GPS data via the USB port...and maybe I'm insane.
Well, okay, that's always a possibility regardless of other conditions.