OMG! THE WYND IS TOO LOWD! No, I'm kidding! Just a joke.
Anyway, here's a suggestion for a new type of compass. The pin-on bubble compass. It can be attached to the player's chest allowing them to simply look down at their chest (in first person) to view the compass on the fly instead of accessing their inventory or using a hotkey to view the handheld version. It would of course have to function in real time. It would streamline compass use and give the player their heading at a quick glance! I always thought this would be an incredibly useful addition to the game, just never said anything until now.