totally subjective comment:
30 years ago, working for the USFS as a survey contract inspector, i used a personally-owned Ranger Type 15CLQ daily. part of my job included locating 100+ yr old survey makers.
let me describe my best "find": i had to go one mile from a known survey starting point though a very thick lodgepole-pine thicket. counting my steps and checking the Ranger every few paces, i eventually stopped when i thought i was in the right place. scanning around i didn't see any eye-level tree markings usually associated with a ground level cap or rock-marker. i was about to give up when i looked down. i was standing on it!
if it hadn't happened to me i never would have believed it. i give full credit to the compass. it never let me down and always got me very close to where i needed to be, even over a many mile trek.
fyi - my impression over the years was that i could be consistently accurate to within half a degree, so it surprised me to read the above comment in post #2, that they are only accurate to +/- 2 degrees...