For bay fishing, GPS is a less essential as it is pretty easy to find the same spot with depth (FF), and a decent sense of direction..(I am 30 yards off the beach straight off the ... blah blah..)
In more open water, just a few degrees off a point can make a huge difference, so finding the same spot is much harder..especially when drifting at 2 mph...
I have a 5x, and sometimes wish I had popped for the GPS..
Good luck
Cowboybill