It has been my observation that most folks have trouble navigating because they are unable to align the lubber line of the compass with their direction of travel. Tests have shown that the best way to assure such alignment is with the use of a compass mounted on an "attack board." If you don't feel like carrying such a device about with you then you need another system to assure alignment. I wondered about the console vs wrist question (my bias was for wrist) and so over the course of the next 4 ITC's that I staffed I added a long single leg, due north, compass course to the candidate's qualification dive. I kept track of wrist vs. console users (38 candidates, 31 console users and 7 wrist wearers, if I recall correctly). The wrist wearers did much better on the compass course than the console users. I saw this pattern on the first outing and so I started watching console and wrist wearers, here's what I saw:
1) Overall, the wrist wearers were much better at aligning the lubber line with their direction of travel. I suspect that this was because they not only had their forearm in their field of view, but they had a "body-position" knowledge and feeling.
2) The console users who did well (and about a quarter did as well as the wrist users) also were good at aligning the lubber line with their direction of travel and keeping it there.
3) Most of the console users did not do well, they usually had systematic lubber line errors, though a number simply did not know how to navigate, theyd check their compass, drop their console, swim a ways, repeat, etc.
4) A few of the wrist wearers did them same thing as those in (3), they also did poorly, except for one who was right on the money, I suspect that random errors canceled each other out.
My conclusion was that a diver can learn to naviagate just fine either way, but it appears to be a bit easier (fewer "joints?") with a compass mounted on the wrist.