It could be the E-trex effect. Set to American system of calculating the curvature of the earth (or somesuch). Mine consistently produced an error of about 50m east, 200m south for yonks until I worked out how to set it to the same system the OS uses.
My E-trex has the compass feature you mention above, and it's not actually all that hot. It only works if you're moving. Apart from that. I think it's fine, got me to a few small panels of RA in the middle of heather moorland I'd probably never have otherwise found. One of the best things about it is that it lends a sense of comfort on foggy nights on moors. Less chance of getting lost as you can always retrace your steps.