I've got a couple small, inexpensive compasses, although in my area, I really do not need one at all. I spend my time in NYC and a suburban area that I had ridden a bicycle all over. The maps for each are etched in my mind, and picking direction is a matter of looking up.

However, if I were going to spend any money at all, I would go for binoculars with the compass in them, for taking bearings. I've used them racing sailboats and really like them. Something like this: http://www.westmarine.com/webapp/wcs/sto...classNum=12363. That's an expensive option, but you can find similar products for a little over $100.