I personally I of no use of this spatial-orientation device, so I propose to make a new use of it which will make people love it more.
Idea #1: Map Icons. Basically allows the player to see icons on the map, meaning icons would normally not be visible for anyone far away.
Idea #2: Map Extender. Increases the range that the map is explored.
Idea #3: Structure Locater (Thanks OrderOfTheStone). Searches for and points out the closest structure of a type that you set.
I'd like to hear some more ideas below, and I'll add them to the list of ideas.