I have a similar problem (with maps ICS) where it shows my location as someplace on the opposite side of my state.. only when connected to wifi. Perhaps you'll have better luck disconnected from wifi... probably not but worth a try. I don't really see the point of these compasses if you are moving the phone will know what direction/ vector you are moving in so whats the point of a sensor they are never completely accurate anyway.. from my experiences at least.
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