Haven't used one of these, however from the manuals, there is no provision to enter a track or waypoints into the thing and use it for guidance. It's just a GPS datalogger, albeit with some nice visuals - I like the way you can see average speed and distance since logging started.
Best to treat these numbers as approximate however until the unit is calibrated against a known distance - their accuracy will depend on the sample rate and the smoothing used.
Some loggers have insensitive GPS chips, and are not that good near high buildings or under tree-cover - as far as I can see the MTK chip in this one gets decent reviews for sensitivity and multi-path.