When my engine failed at 3000' over LA in solid IMC ,I instantly pulled back until the speed tape indicated best glide speed and went through an unsucessful restart, then I pressed the GOTO NEAREST on the right hand MFD. I instantly knew I was not going to make any airfield, so I zoomed the map display in, found a highway and lined up on it. 500' I popped out of the cloud and made a perfect landing on the road.
Not a real life situation thank goodness, but it was done in an FAA approved Garmin 1000 simulator. They really are that good that you could even determine which side of the road you want to land on.
The benefit of a good GPS in the aircraft outweighs any perceived disadvantages. In fact the FAA now say that paper charts are not required in the new generation of glass cockpit light aeroplanes, and although I'd probably always carry one as it was "the way I was taught" you really do not need one. Last time I was flying a glass cockpit aeroplane VFR I refered to the paper chart for preflight purposes only, entered all the VRPs into the flight plan in the screen and flew using the moving map.
In this generation of avionics, IF gps is lost a) you know about it straight away, and b) it switches to DR mode.