One might argue that if you had a heart rate watch, to control your effort, you don't need one that tracks pace and mileage. When it's important to control the pace, you can use known (pre-measured) courses, or go to the track.
Maybe not the cheapest option, but I'm happy with the Suunto T3C, combined with a footpod (which I almost never use). It's not too fancy or ridiculously expensive, but does have heart rate, and possibility to transfer and analyze data on the PC. I bought it because I wanted something simpler and less bulky than my Polar S625X.
A friend of mine bought an Timex Ironman GPS watch, and after a mail in rebate, he was quite happy with the feature/price ratio. It also has heartrate.