Sandman...you say it like it is, I'll give you that. I agree with most every thing you said. Come on now, not everyone has back up hand held gps's or digital compass's. The chances of a eletrical fire on board is slim but it still happens and combined with fog and elements ....IMO why not rely on the earth's magnetic force vs. a man made object....why take the chance? If I where asked who on this site is the least likely to ancounter boating accident I'ld put you right up there SM, just based on your knowledge and understanding but accidents happen to the best of them. I always say expect the unexpected, sometimes good sometimes bad.
Back to adjusting a compass to magnetic north.

I just got back from another GPS semiar for rookie boaters like myself, anyway, the two of the most common ways is ...1 pick a calm day in a harbor with no current or wind, (one of the two will turn your boat away from your boat facing north as your trying to adjust it.) Point your gps's compass to north, while maintaining North adjust your boat compass.(done better with two)....2 If you don't have a GPS (Sandman


)...get a second compass and place it on the deck in line away from your boat compass, some where away from metal's.... now see if the readings line up.
I hear you loud and clear Sandman....technology is fasinating and always changing for the better. The"classified" WASS system that our goverment uses is accurate to the inch and that makes us only 5'11" away. Thats freakin amazing! IMO...its just a matter of time that we'll have the same technology in our boats.