UPDATE: An improved version, the Garmin Forerunner 910XT, has been released.
The Garmin Forerunner 310XT is the first and only GPS designed exclusively for triathletes. It is waterproof (to 50 meters!) and can go for up to 20 hours on one charge. Targeted to multi-sport athletes, the 310XT can categorize the activities in your workout and log transition times.