Digicam exposure metering is NOT an adequate substitute for a handheld meter. They are calibrated for the chip in the digicam. I have seen this first-hand when shooting product shots with a digi and comparing it against my handheld flash meter, which I know from experience is accurate with my film shooting. Set the camera and the handheld meter to ISO 100. Take the exposure reading from the flash meter, set the camera accordingly, chimp, and voila - 1+ stops underexposed. I've seen this phenomenon not only with my old Olympus E-1, but a variation on the theme also happens with my Canon 5D. I was also in a portraiture class where most folks were shooting digital - we all used the same hand-held light meter, but five of the eight of us had to set something different (plus or minus) from the handheld meter reading to get an appropriate exposure on our cameras. This is a dirty little secret of digital photography - ISO 100 is not necessarily ISO 100. If you want to use something other than an in-camera meter for metering, get a handheld meter from a reputable manufacturer like Sekonic or Minolta. Get one that can be calibrated. Do some exposure tests, record your results, then calibrate your handheld meter to your process. It's not difficult, just a bit tedious.