There are a couple others like iGo8 and CoPilot.. and even a free one
amAze..
But I've never found one that anyone can agree on. Some people swear by TomTom and others swear by Garmin (like me), others swear by theirs... I guess it matters where you are and what else you have running on your phone and what ROM and probably a whole lot of other factors. Best advise is to find free trials (or failing that, a "trial" from forums) and test it out. If you like it, buy it.
I don't have TP2 in hand, but on my VZW TP1, Garmin keeps *pretty* accurate about when I turn and where I am. When I start getting onto tiny roads in the boondocks or roads not on the map (like parking lots) it's a little less so, but overall works great. I've never missed a turn because it showed me I was that much farther back than I was.