I use gps all the time for surveying with accuracy of 1 centimeter or less. The trick is to have more than one reciever collecting sattellite data.
With the proper controls etc. gps can be very accurate, you can go on and on forever about this stuff, you can get a doctorate in surveying with most of your emphasis on gps.
Don't get Gps and surveying confused with gis, the guys that do gis get the same type of accuracy "+/- 10' " as you guys do using the little hand helds. A lot of the gis people will tell you that they are getting sub centimeter accuarcy based on the coordinates that they have that go out to like 10 decimal places, but they are wrong, to get accuaracy that good, you need to have survey grade equipment and a lot of knowledge, and you have to run the data through a lot of tests. Our data guy is a phd with a lot of math background.
Sorry i'm rambling, just wanted you to know that you can get very good accuaracy, but no matter what your handheld tells you, it's +/- 10' at the best, even if it is giving you coordinates broken down to 10 decimal places.