Why do you guys need to check your bearings anyway? I've survived many, many days in the world without ever being unaware of my direction of travel. Shadows, clouds, moon, sun, terrain... So many cues to your direction, and spending 5 seconds to double-check your bearing once in a while when you're safe isn't all that hard, is it? Equip your compass to one of the quick-slots in the bottom by dragging it there while in inventory. Press the appropriate key while running, and press space for a closer look if needed.