More than you want to Know
Pre-GPS , you steamed between two known points and marked deviations ( N to S then S to N , etc.) using a peloris , then you made a correction card or table of deviations . I used to help my Grandfather , back in the 1950's, do this on his ship.
The adjusters are for compensating for large metal objects and electrical fields . On an old fashioned compass/binacle , you had what was know as 'navigators balls' ( 2 iron balls P & S of the compass ) .They could be moved P & S to affect the compass card .
A true course could be 80, magnetic 92 and compass course 100 degrees, so your deviation would be 8 degrees form Mag N and 20 degrees from a compass rose on a chart .
BTW, A compass can be off E or W of magnetic N
A point of trivia;
Boxing the Compass , is to name all the points of the compass starting at North and giving all the quarter points back to north, clockwise or counterclockwise . I used to be able to recite it , now I have to write it down.
Swinging the Compass , is to "correct" the compass or create a deviation card for a vessel's compass(es).
A magnetic compass points to magnetic N , a gyro compass points to true N and I would guess that a GPS is giving you true N. Those little magnets in your small boat compass are not capable of correcting to true N , they are to get your error between mag N and your compass reading as small as possible or correct for being too close to the engine or electric panel. Go get a fluxgate compass if you feel the need for more accuracy.
disassembling a bulkhead mounted compass
This seemed the best place to put this post...
Can someone share their experience with dis- and reassembling a bulkhead mounted compass? My inclinometer gets stuck on and doesn't swing to the right reading on a starboard tack. Wondering if someone could give this job a 1 to 10 rating on complexity and any pointers. Thanks.