Terry:
There is one more issue that you may or may not need to consider, whether you need to worry about it depends on two factors:
1) What country you want to define the waypoint in, and;
2) What precision you need from the waypoint you are making.
The issue is that of map datum. All the Garmin automotive GPSR's use WGS 84 (World Geodetic Survey 1984) as the datum for latitude and longitude. If the paper map you are transferring the waypoint from also uses WGS 84 as the datum, then the result should be an exact match.
If the paper map uses a different datum, then there may be a slight difference between the location of the waypoint as shown on the paper map (in whatever datum it uses), and as shown on the GPSR, using WGS 84. For automotive navigation purposes, where an accuracy of plus or minus 50 feet is generally good enough, you can usually disregard differences between the paper map datum and the (fixed) WGS 84 datum of the automotive GPSR. But if you need great precision - for example, you are trying to locate a sunken ship using a marine chart - then you need to be aware of what the datum is on the paper map, and make the appropriate conversions.
The Garmin marine and aviation GPSR's, including models that address marine and automotive (e.g. the 276C) or aviation and automotive (e.g. the 295) give you the ability to choose the map datum you want to use on the GPSR. The automotive only models - SP III, SP 26xx, etc. - use WGS 84 only. This makes sense, because the electronic cartography used in the automotive models is all based on WGS 84, and differences between WGS 84 and local datums in areas that the electronic cartography covers (North America, Western Europe, SA, Oz) are pretty small. Also, automotive users really don't need extreme precision.
If, though, you plan to bury a bottle of expensive Scotch somewhere for retrieval later, and plot the co-ordinates from a paper map, make sure you are either using the same datums on both paper and GPSR, or do the datum conversion, otherwise, you might need to bring along an earthmover to find the bottle later on.
PanEuropean