NavList:

Hi David,

For its intended use, which is land navigation, I am sure it does the job.  It would not be my choice for use aboard a small sailing boat.  My preference would be the hockey puck style of hand bearing compass, such as the Plastimo Iris.

Yes - a marine hand bearing compass is more expensive, but better suited to its purpose aboard a small boat.

We can discuss the differences and reasons if interested, though you may be very familiar with these already.

Also, the compass you have asked appeared appears to be a cheaper replica of the equivalent Silva or Sunto, I have found quality differences even when manufatured in China (as I think both Silva and Plastimo do these days - don't know about Suunto).  When working with boy scouts and orienteering I noted the additional longevity of the name brands over the no-name brands.

Aboard a small boat I've never had any use for any tool that allows for preset variation (not declination - that's a land term and has a different meaning at sea for CN).  The local variation is ingrained and second nature.  On a long coastal passage I pick pre-defined points en route where I change to the nearest degree for pilotage, but away from land it is no longer relevent as we are not using a hand bearing compass other than to predict the risk of collision course with another vessel or the near-enough direction of a star we intend to shoot.  

The Cape Dory 30 is great boat!