I think there are some teething problems with it.
One user complained about the poor response from the GPS receiver.
My interest is to mount it on a Dob!
In theory it should work OK.
My expierience with a Digital compass is that it is so much influenced by objects arount it that the accuracy is only achieved by aignement with a known star. After that it should be OK.
To establish the position of an object at any time I use a trial version of Pocketstar on my PDA.
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