Most (if not all) walking / hiking GPS units will allow the user to create a waypoint by entering Lat / Long co-ordinates and then 'Goto' the waypoint usually with a compass type pointer and a distance display. It is also possible to create the waypoint using a computer running something like Garmin's Basecamp or Mapsource programs and then download the waypoint to the GPS unit. Even units that don't allow maps to be displayed like the old basic Garmin Etrex will do this. Many car sat-navs will also allow this waypoint (possibly called a Point Of Interest) to be create and then used to point the user this point. As far as accuracy goes there is not much to choose between what you might call 'general use' GPS units that are currently on sale, here is a list of things to look for that can be added to the standard GPS receiver :-
1) Units that use WAAS / EGNOS (an extra satellite used for better accuracy)
2) Units that can also use other satellite constellations such as GLOSNASS
3) Units that can reject multi-path errors
I think you will still have a problem getting down to your 2 feet guaranteed accuracy though, without going for a unit that is designed for surveying land, these units are more accurate (possible as little as 3mm positional accuracy), because they use extra transmissions from GPS and GLOSNASS satellites and can be using as many as 8 signals from the satellites as opposed to one or two with 'normal' GPS units. However a surveying unit like the Trimble Epoch 5000 can cost £10,000 UK, so you will be paying for this accuracy
Unfortunately the UK usually does get ripped off when purchasing electronic items, it's very common to see UK consumers paying more in 'Pounds' than the US purchaser pay in Dollars, despite there being 1.6 dollars to the pound. The excuses they use are that the UK is a smaller market and that it's an island (I think they have forgotten there is a tunnel to France)