Update: Received and installed the Wayfinder v7000. IMHO, it does an excellent job (accurate to 1 degree + true or magnetic North settings). With the $9 Home Depot inclinometer and the Wayfinder 7000 digital compass ($50 refurbished from Overstock.com) the total system is about $60. If the digital SmartTool price drops enough maybe I'll get that too. Not a bad overall price for the results. It also works and I find it a bit easier to use. The down side - it costs more and defeats the purpose of doing this on a budget.

In any case, I will keep the setting circles on the scope just in case I'm ever observing in a location w/ strong magnetic interference. I can't thank you folks enough for the threads on this subject - it makes life a whole lot easier AND saves money!