My current solution to creating tracks is to use 2 gps, mainly I use a HTC Wizard (TMobile MDA2 / O2 XDA something) with a Holox BT-321 bluetooth GPS module. In addition I've been carrying a GlobalSat DataLogger DG100 borrowed from work.

Pocket PC
The PocketPC come Phone runs Windows Mobile 5 and I use NoniPlot for creating tracks. I've tried several other apps, but nothing free has been as good at recording the tracks. I plan on writting an application aimed for OSM mappers, I've not written the spec yet, but I want it to be easy to use for tagging on the fly. The Holox gps was very cheap buy from ebay, and I'm very impressed. It aquires position very quickly and battery life is incredible, I think I've ever only charged it up 3 or 4 times, it has a Lithium Ion battery which matchs the one supplies with some nokia phones, so if the battery ever did fail replacements should be easy to find.

Datalogger
The GlobalSat DataLogger is a very simple piece of kit. One button and a 3 position slide switch is all the controls it has. The configuration is done whilst it is connected to a computer. You can set the frequency that points are recorded and stop it recording points if you've stopped moving. I've been using it with 5 second intervals, but have found that a bit course. I've now changed it to 2 secs and will report back on if it's any better soon.
For downloading the tracks from the device I've binned the supplied software in favour of the DG Manager .net, a free piece of software available on sourceforge. It's much more friendly to use and allows you to quickly visualise the data as an overlay to google maps. You can export the data to GPX or any of the many other formats it supports.
The only issue I have with the DG100 is the drivers that are needed to allow the computer to talk to the device. It requires a Prolific USB to Serial driver which has proved to be a bit flaky. Once it's connected and recognised then it is fine, but it can be annoyingly random as to whether it's detected or not.