Not really.
For comparison, cannith crafting at ML28 gives +20 lore, +139 spellpower, and +12 stat, though not all three on a single trinket. (The third effect would be insightful.) So it doesn't appear that the masterful craftsmanship is doing anything at all.
ML28 random loot is in a difficult position, as it has to compete with end-game named loot with the same minimum level.
The wheloon/stormhorns "former wondrous" end rewards simply get the maximum enchantment available at a particular level on random loot - never better. So in a way, they are worse than the usual masterful craftmanship items.
They are essentially the same as cannith crafting - however, as random loot they can have affixes which are not available via cannith crafting for the item type.
Also the former wondrous gear can include augment slots and is even eligible for mythic, and possibly reaper bonuses.
This particular compass would serve me nicely as sentient food.