I would never solely rely on and on an electronic compass. I always carry a quality Suunto mc5. I do however own and use a Garmin Tactix. It rocks! It uses a GPS-based and a magnetic compass. I find it to be quite accurate. I've had it for a year and a half while ocean kayaking, skydiving(Jumpmastering and watching glide ratio), ski mountaineering, and backpacking of course. I plan on weaving a paracord wriststrap for it using a firestarter/ whistle buckle.