Jake,
https://buy.garmin.com/shop/shop.do?pID=30025Garmin still sells the Foretrex 301 & 401. I did a quick search as you suggested... The manual says the Foretrex 401 has an electronic compass.
Also from the manual: "The compass page guides you to your destination by displaying a compass and a bearing pointer." It goes on to explain how to use the device to navigate... Maybe you are thinking of something else?
