We have a cheap Garmin Legend eTrex GPS that comes in really handy if we get lost. Sometimes you don't have a clue where you actually are on the map, or even which direction you're pointed in. So when they say just head to the nearest recovery point, it helps a lot if you can figure out where you're starting from.
It also sometimes helps, if for example you know you're approaching a Caution Acute Right, to see an overhead view of the intersection coming up on the GPS map display before you arrive there. It can give you a bit of a heads up on what to expect.
The GPS is mostly handy only in that it keeps a log of where we've been that I can later download and study on a map on my computer. So when they're all talking about Lavant Mill Rd later on, I can actually locate that on the map afterwards to see where it was.
Beyond that, I wouldn't trust a GPS for accurate distance measurements on anything other than a nice straight highway.
Here's a sample of our log plotted during the Lanark Highlands Rally following Lavant Mill Rd. The grey line is where the mapping software suggests the road is located. The dotted blue line was our run heading north, and the yellow dotted line was coming back south.

Note how far our actual track diverges from where the mapping software thinks the road is located.
Lesson #1:
NEVER trust mapping software created by a company in the USA to accurately depict the path of any remote forest roads located in Canada.
I have the GPS configured to 'snap' our location to the nearest displayed road. Note how, at the top of the picture, the GPS plots our track along the lake shore, then suddenly snaps over to the mapped road, then gives up again and accurately plots our location next to the lake. I think this is why the North-bound track doesn't match the South-bound track. I'll turn off the 'snap-to' feature next time.
In dense forest where the trees cover the road, the GPS will frequently lose satellite reception. When that happens the log will sometimes show a mysterious spike in our track, suddenly branching several hundred meters off into a field before snapping back to the road.
Note that I mark each Checkpoint as a waypoint on the GPS. Evil crafty organisers like Craig Hamm will deliberately move checkpoints so that people like us, who tag the CPs on our GPS, will be surprised on our return trip to find that the CP is no longer in exactly the same spot.