My Garmin Edge 705 logged 116.6 miles, for 25 laps. This averages out at 4.664 miles per lap and the tracklog looked pretty sensible when I imported the GPS into Memory Map. I was riding with a powertap so logging interval was every second.
That said, with a lot of the course in the trees and being twisty singletrack, I think there is potential for a GPS based system to underestimate in these circumstances, even when on a 1 second resolution.
If anyone has a definitive answer on this, please post it here!
Event photos for Saturday are up on http://www.photo-it.com already. Not sure if any other photography companies were operating, but there seemed to be lots of photographers out and about.
However, as other have said, great event!
Kev