Money and electronics won't buy you good prints. The idea behind that approach is to determine exposure and contrast such that spot "X" of the negative will print just maximum black (or 90% of Dmax, or whatever), and, likewise, that spot "Y of the negative will print just shy of pure white (or D=0.1, or whatever). (even to match mid-tones with a reflection gray scale...) That approach fails for the following reasons:
- How do you choose spots "X" and "Y" on the negative? A specular reflection that subjectively is beyond white? a keyhole into a dark room that is subjectively beyond pitch black? Of course, I'm exaggerating, but that is to convey the idea.
- How to choose the reproduction tones "or whatever" in the above? For light tones, as you push towards paper white there comes a point where you actually lose brilliance, because the tone reproduction curve rolls over at the shoulder; wehn is "just right"? And some shadow tones (in some images) can be safely dropped into maximum black.
- The reproduction of mid-tones plays an important part in the feeling conveyed by a print, IMO as much as the placement of the highlights and shadows.
Wrapping up, and IMHO: an electronic device may help you determine a good
approximation of the contrast and exposure, and to cut down on
initial steps of trial and error. Experience and a good eye can achieve the same (not that I'm there yet). Then dedicated test strips in critical regions of highlights, mid-tones, and shadows. Then a full-frame test print, that will reveal global relations between the tones, that the test strips could not. Then...
A contact sheet may also be useful, not just to select "interesting" frames, but to transfer exposure (grade-fstop-time) information, gained through hard work from one fame to another. Hhmmm frame 3 prints lighter than frame 2 on the contact sheet, so I'll need to expose longer (other things equal...); ditto for paper grade.