With the advent of True North arrows in Arc10, a tool for adding a declination diagram would be awesome. Possibly as easy as Insert > Declination Diagram.
For those that don't know, a declination diagram is frequently used in military applications, but is also found elsewhere. It is a graphic representation of the angular differences between True North, Magnetic North, and Grid North.
It looks like this.
Declination diagrams are included with the production mapping extension. Additionally ArcGIS Pro supports true north, magnetic north, and grid north so you can build your own, as show in this blog post.
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