Yes, the Suunto KB-14 is a very good compass if you're looking for maximum precision. To be fair, it has not really been designed as a general purpose hiking compass and tends to be impractical if working directly with a map.

For anyone interested in a direct comparison between various types of precision compasses I would recommend the following link:
http://www.itinorient-madrid.com/precision_compasses.php

I find the above comparison quite useful all in all. Obviously, some of the opinions regarding the handling qualities of a particular compass model are subjective, but the overall analysis is sound and the tables give a pretty good idea as to what kind of inherent accuracy may be expected from a given compass type.

Note BTW that the comparison includes the infamous "Wilkie" copy, which has been the subject of much debate earlier.

Also, I noticed there has been some confusion as to how the compass needle deviation is measured. The deviation error is usually expressed in +/- degrees, for instance, a compass may be said to have an accuracy of +/- 2 degrees.

However, that does NOT translate into a 4 degree error - it simply means that the maximum inherent deviation of the compass needle may be up to 2 degrees maximum from the mean (correct or spot on) reading.

Most precision compasses can achieve an inherent accuracy of well under +/- 1 degree under perfect conditions. The actual performance in the field is invariably going to be worse due to parallax, tilting and various other user errors. Still, like Aksar pointed out, a field accuracy of +/- 2 degrees is totally realistic with a good hand-held compass fitted with some sort of sighting aid.

A low-quality compass is a different story, especially if let down by poor damping and/or the absence of a good sapphire bearing that ensures smooth needle movement. This is really what separates quality compasses from inferior knock-offs - not the lack of extra features, but simply basic construction weaknesses.