Mobile Analyst Watch has an interesting comparison of the Garmin Forerunner 205 and 201. He writes:
Overall I like the 205 a lot. It’s more comfortable on the wrist, has better placed buttons (lap and start/stop), more features I’ll use, and hopefully will be more accurate too. I plan to do another write up or two after taking it on some trails with heavy tree cover and/or canyons, where I have always lost GPS signals in the past.