I have a Suunto "Yachtsman" watch that has a digital compass that I've been pretty well impressed with. It was accurate enough for me to spot bouys on the horizon based on map bearings, and more accurate than the compass on at least one motoboat I've been on (it had never been calibrated).

The problem is, even though I have several watches, and wear the "Yachtsman" on the water, I haven't worn any watch EDC for about a year now. At some point it just started to seem very silly- the mobile phone on my belt displays the time prominently (without flipping it open), is backlit, and never needs setting, and the Palm Tungsten T on (the other side of) my belt displays the time and date on an illuminated screen with one button push. Since I actually use both of those a lot, wearing a watch as well meant that I had no less than three timekeeping devices on my person all day, every day.

I'm sort of sorry to admit it, since I was sort of a "watch freak", but it seems to have been noticeably more comfortable not wearing one. Like going without a tie, once you're used to it, it's hard to go back.