That's a big drawback of the screen view on compacts, holding a camera at arms length is great for magnifying camera shake and not being able to see what's vertical, they are not a good substitute for the old style eye level view finder which made you hold the camera up close and fairly well braced. I nearly always use a monopod or tripod; when I'm out with the camera it's not in the bag, or round me neck, it's normally on a monopod which also doubles as a walking pole, the tripod only comes into play for close up/macro shots or landscapes when I have the time to get set up properly.
If I go to a folk festival or the Bournemouth Air show, I often take hundreds of shots in a day, the most I remember was at the Air show when I took over 800 one day and 900+ the next. Couldn't do that with film, would cost too much, with digital, once you make the initial outlay that's about it, unless you start buying more lenses and accessories!