I have heard and read good things about this compass, but for over $30, I will stick to the $4 wet compass I found. Besides, I won't be calling in any artillary fire with the thing, I just need it to point me in the general direction.

Countycomm has a dry button compass with a little nylon lanyard the were selling for $1. It seems reasonably functional to me. It's not on their site any more, but it's included in their survival starter kit:

http://www.countycomm.com/justincase.htm

The one in Doug's kit looks a lot nicer but more expensive. I'm not sure why Doug went for that. I guess he has his reasons.