For those who continue to insist a compass is essential read this. http://abcnews.go.com/US/wireStory/hawaii-canoes-voyage-showcases-ancient-navigation-23820165 
I know someone who wished they had a compass. This is on the Chesapeake Bay where we are always within sight of land. She was overtaken by fog in her power boat at the mouth of the river where her marina is located. She found a buoy marking the mouth of the river, made her best guess on which way lead home and started slowly motoring in that direction. She was encouraged when she came to what she thought was the next buoy, only to realize she'd motored in a big circle and was back at the first buoy! Fortunately another boat came by and she was able to follow them in. She invested in a compass soon after that.And when it's foggy or cloudy, and my GPS dies, or I have to even use my old backup GPS which doesn't have the charts, my paper charts and compass sure come in handy.
I'm going to pick a nit here and suggest that your compass will not usually, as opposed to never, steer you wrong.Twentyfive,
The only other suggestion I can respond with, is the old school of thought & I quote, "The PRUDENT navigator shall not solely rely on ONLY one form of navigation, but ALL forms at his disposal".
Too much dependence on electronic devices, subjected to breakdowns, weather, atmospheric disturbance etc., my compass WILL NEVER steer me wrong. Hey, if you look at past history, the founders of our world didn't have electronic devices. BUT, their compasses never lied, or went offline & they found the NEW continent. I've had my electronics go offline but, my compass ALWAYS got me CLOSE to my destination.
Addendum,
Why would you think an electronic device is better than a mechanical device not having to rely on battery power if/when failing? Would it be far better than one(a compass) that will NEVER fail?
CR