After much searching I found that marine supply companies seem to make the most advanced compasses. I bought a KVH Datascope for about $300. It is designed as a monocular; you look through the unit, which provides 5x magnification, crosshairs, and a digital readout superimposed, accurate to +/- half a degree. This is a sighting compass, meaning that you sight a distant object in the direction in which you wish to travel, walk toward that object, taking another sighting, and so on. The fact that the compass is still accurate if you don't hold it level (it has a 20 degree tolerance) is a big plus; traditional compasses are useless unless you manage to hold them almost precisely level.You can view the full article here.
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