It does not. Of the current Forerunner line, the devices that provide this functionality are the 205, 305, 405, 405CX, and 310XT. You can do a compare on Garmin's site and see that the devices that can do back-to-start have "Waypoints/favorites/locations."
Thanks for the information. That's a shame, it would have been just what I was looking for had it included the "back to start" function.
Thanks also for providing the list of models that do included this function. I'll trawl through any available information and try to determine which one is the best with respect to simplicity and speed at which it locks on to a satellite.