Yes, it's perfect for all those. It just takes a while to learn it properly.
Do remember that the course (.crs) is the ONLY format to use for following a route. The latest version of software may have made this easier, but you have to export the course (or is it a track, or a route? - all different) from Mapsource as a gpx, convert the gpx file to a crs file (using a 3rd party tool, Gpx2Crs.exe) then go into Training Center to load it up.
I once did it all except the last bit. When I got to where I was riding, the course wasn't on the Edge. Doh!