I think that the first step is to figure out what functions are important to you (or the gift recipient). The basic decision points are:
- wired or wireless - it's nice not to have to fiddle with wires, and the wireless ones give a cleaner look, but there is a modest cost adder, and you also have to put a battery in the transmitter
- speed sensing only, versus speed and cadence sensing. Basically this is deciding whether you need a second sensor to monitor crank rotations, in addition to the first sensor that monitors wheel rotations. If it is a wired computer, then you have two wires, or at least a "two-headed" wire. If it is wireless then it costs more to get two wireless sensors. (A lot of roadies would view cadence sensing as a critical feature, whereas it probably doesn't mean much (if anything) to mountain bikers.)
- do you want the speed sensor to be fittable to the rear wheel, instead of the more usual front wheel, so that it will still work if the bike has been mounted on a training stand? Rear wheel speed sensing is somewhat unusual as a feature. The Cateye Astrale model offers wired rear wheel and cadence sensing. Some of the higher-end wireless units have sufficient transmitting range to allow the speed sensor to go on the rear wheel. Of course the cadence sensor is almost as far away, so rear-wheel speed sensing tends to go along with cadence sensing.
- other functions like alititude and grade, or heart-rate (which requires a wrist-strap sensor).
- whether the computer easily handles moving between two bikes (a lot of models support two sets of set-up configurations)
I had basically decided to get a Cateye Micro-Wireless unit, which is a very prevalent speed-only computer with a good feature set, since it is available from lots of ebay sellers for about $35 or so, incl. shipping. I wanted the wireless cadence feature as well, but it was going to up the cost quite a bit. But then I found a good price on a slightly used VDO unit with both wireless speed and cadence, so I ended up going that route.