I've got quite a collection of compasses and yes, quality of Silvas has dropped but they still work. Search for "orienteering compasses" or "orienteering supply" and you'll find some nice equipment.

Even the Cammenga lensatics, although made for the military, can be faulty. I've got the tritium version and had to sand the straight edge straight. The castings aren't "precision". It's bomb proof but heavy.

My two favorite "gizmo" compasses are the Swiss Army/Suunto Box compass...lots of stuff in a little package, but the print is too small for my eyes. Very well made.
http://www.amazon.com/Suunto-SS010605011...8336&sr=8-4

...and the Moscow #2 thumb compass for orienteering. Built like a tank, very precision markings, super fast/stable needle. You can run with this compass and the needle DOES NOT MOVE. Can be hard to find, but I got mine of ebay a few years ago. Orienteering suppliers carry them.
http://www.moscompass.ru/mc/cat-en.html

And then, the compass I hike with most of all...a Silva #11 whistle compass. Small, light, tough, been around the world with me. I don't care about straight edges/bezels/markings, only good maps and where north is. The whistle is a bonus and useful. I wear it around my neck, with a coin cell light.
This thing has become hard to find in the US....Look around, somebody has one, somewhere.
http://www.getprice.com.au/Silva-11-Whistle-Compass-466-Gpnc_375--49952180.htm