Which camera is it Mike? Some had over/under exposure indication marks in stops or half stops on a scale, and some had a ring and needle. IIRC, on the Minolta SRT and Canon FT series, the ring was one stop across, so from center to edge of the ring was 1/2 stop. You could accurately estimate up to a couple of stops over or under in half stops using this method. Other cameras had indicator marks up and down the side of the finder.
I've used similar systems in SLRs and rangefinders, and there's usually a good way to find known points for over/under exposure amounts in the finder.
The way you're working it is fine, but if working speed is critical, knowing a few reference points for the meter needle can be helpful.
Lee