My analyzer is the JOBO (Or used to be JOBO) ColorStar 3000. I have nothing more than minimal experience with others.
I have tried printing without the ColorStar - it can be frustrating beyond belief, especially when it involves "other than standard" ambient light sources. I was forced, once, to try to print a negative taken of a white house in a green field, taken on a heavily overcast day in November. Not fun, and it took a LOT of paper and chemistry... trying.
As you might know, I work a lot with images of models illuminated by the projected images of color transparencies. The color temperature of the lamp in the Hasselblad PCP80 projector is something like ~ 3600K; at any rate, all bets are off after the light passes through the transparency - and the film is, and will be, daylight balanced color negative (~5500K). Strange color balancing - lately, I've been using an 85B filter over the enlarging lens - is necessary in printing, and I have *NO* doubt I would go *Bonkers 1st Class* without the ColorStar and a channel set up for "Fair Caucasian" (or others, if need be) skin.
For black and white ... the obvious application for the ColorStar is exposure - there is an optional mode expressly for Black and White - and I've found it invaluable for determining a contrast filtration starting point for VC papers. Not perfect, but it saves a tremendous amount of time, paper, and chemistry.
Operate without an analyzer? I can, and have ... but believe me, I'd rather be struck in the eye with a burnt stick.