Great for iPad, skip it for iPhone
If the iPhone version of True Compass had all the features of the iPad version (display of maps on main screen, locale and destination information etc) it might be worth it on iPhone. On iPad, those features make this app worthwhile, and Id use it even if iPad had the iPhones compass app.
Remember to take the SmartCover off, or else it throws the magnetometer out of whack!
Small gripe: app requires location services on all the time (even in the background) in order to show true (rather than magnetic) north.
Splicer415 about
True Compass, vv1.4.2