I have logged 3112 miles since 2008 in my garmin 205 (available for £105).
It has been through all weather and never failed me (although had to reset it a couple of times). Just a simple watch with a GPS receiver in it. No chest straps or things to put on / in my running shoes.
It has helped me get to the stage where I can run at 6 minute mike pace in 10 mile races.
There is no way I would run with my (fantastic) android phone.