Just thought I'd share my stupidity in order to prevent anyone else from blowing their compass module. After a few days of troubleshooting I finally realized that the reason why I could never get rid of the Red/Yellow flashing LED was because I had actually put a magnet right up against my compass - the screwdriver I used to assemble the Phantom. I'm running all over the web now trying to get a new compass module (only about $10) but hard to find so far. Oh, and "Hi" everyone. Nice to get in on the ground floor of a new forum. Looking forward to sharing and reading. Ed, Manhattan, KS Quadcopter newb P.S. Purchased my Phantom from DSLRPros.com in L.A.