Personally I'd recommend limiting your initial searching to geocaches that have been in place for 2+ years, are mid to large size, and have recent finds. This is based on how cache placement and hides in my area have gone down hill over the last several years. Some areas may not have seen this degradation, but most of the local long term geocachers that I have spoken to in my area are of this opinion. As an example, we have a local prolific hider whos coordinates are commonly out by 250m, another one who hides micros in large bush areas with extensive overgrowth, one that places geocaches in stream beds the week before storms, etc etc.
My GPS receivers are older so not a good example for you; I have an old Garmin Explorist 800 as well as a Bluetooth SIRF chipset receiver to use with my PDA and phone.
I personally take the most interest in ammo can sized geocaches in rural areas, with at least a 500m walk to get to them. No rural park micro caches for me. I am moving to Canberra shortly, and I understand that they have some very good geocaches of my preferred type there for me to find
