There are four phones on my desk that are well adapted to tracking hikes. There is the nexus one, the e51, n95 and n97. The reason I mention this is battery life. In my experience if you go on a long hike at least one of the phones will die.
You could buy an extra battery or two to make sure that this never happens but a more practical solution is to take all of your phones, install the tracking application on them and swap phone once the battery dies.
Of course this would involve taking three chargers with you but at least this way you could track the hike in terms of chapters and somehow aggregate the data for a true hike map.