Attitude Determination Subsystem (ADS) is essential to the spacecraft pointing control and highly relies on the onboard sensors' quality and filtering techniques. For high quality gyros, it is quite doable to achieve precision ADS using the 6 state EKF. However, for low grade low cost Micro-Electro-Mechanical System (MEMS) gyros and Complementary Metal-Oxide Semiconductor (CMOS) star tracker (ST), especially in higher slew rates type of missions, the 6 state EKF may not be the right or adequate structure to achieve precision attitude estimation capability because MEMS Scale Factor Errors (SFE) and Mis-Alignment Errors (MAE) at high rate will become a dominant error source contaminating gyros' measured rate vector. As a result, SFE and MAE errors may need to be estimated on-line along with the gyro bias errors for real-time error removal and correction to address the high rate slew operating conditions. This paper looks into the emerging Sparse Grid Quadrature Filter (SGQF), a nonlinear point-based Gaussian approximation filtering technique, as an alternative to potentially replace the EKF from the accuracy and robustness standpoints. The study is intended to determine the pros and cons of each filtering scheme and perform a simulation based evaluation of both filters for a possible precision ADS solution using low cost MEMS gyros and CMOS star tracker.