I suppose I am only repeating Don in a different way. The camera meter uses reflected light which is fine for average subjects. If you are photographing say a white swan against a darkish background you will probably loose detail in the over exposed feathers. Exposure compensation will take care of this if you guess it right! Agreed, the histagram will tell you if you get it wrong but how many guesses before you get it right. With an incident light meter reading exposure compensation is generally not necessay.
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