I'm a bit of a skeptic of GPS technology as a lap timer. I've played with a lot of GPS at work and they are not that accurate half the time in the sub meter reading. The only way to get high accuracy out of them if you use Differential GPS and they cost a lot. We use DGPS receiver that are accurate up to 1.2 meters.
To get the most out of any new technology lap timers, they need to be at least in the ~.01 seconds accuracy.
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