Which is the better option? I want to be able to easily save my runs on the computer so I can go back and compare with previous workouts.

Price is also a consideration, I don't have an ipod nano.

Also how does Nike+ work? Is it a GPS type deal, or do you have somehow calibrate it? I don't want something like a pedometer which tends to be inaccurate as I don't run the same speed the whole time…

I just got a Nike+ and before, I was debating the same thing. Nike+ uses a previous calibration which you run to measure distance. Ex: You tell it your running 1.5 miles then you run it and tell it when your done. Once you do this it uses the number of steps you took to equal 1.5 miles and it uses this calibration for all your runs, also it comes with a separate setting for walking.

So if you change speeds often it might not be the best option. I simply use it for my easy 4 mile runs where I know I will run a constant speed. The nice thing about nike+ is you can listen to music while you run.

An 8 gig Ipod nano is $199 http://store.apple.com/1-800-MY-APPLE/WebObjects/AppleStore.woa/wa/RSLID?nnmm=browse&node=home/ipod/ipod_nano While a Garmin
Forerunner 205 GPS Running watch is $234

http://brandscycle.com/itemdetails.cfm?ID=5652

If you want a highly accurate distance counter I would go with the GPS. If you know how far your running and want to listen to music get the Nike+.

I don't own a GPS watch so I don't know how well it works but the reviews look pretty good.

Also keep in mind with the price you pay for nike+ you can use the ipod nano for listining to music and watching videos.

Types Of GPS Devices