Summary: I've been using this same basic meter design for 52 years now. My original one was made by Norwood. I've shot miles of 16mm cine film and thousands of stills using one of these. Very accurate and nothing better to balance lighting on a stage or to set up lighting ratios for studio shooting.
Pros: Durable, Good Value, High Quality, Very easy to use
Summary: My Sekonic L-398 Studio Deluxe II is reliable and accurate, matching a Minolta Auto Meter III exactly to 1/3 of a stop. In low light - at about 1/15 second at f/2 - it's a little iffy, but at those light levels you'll probably be using a flash anyway. I shoot a lot of Ilford Delta 400 with a Leica M6 TTL. I never have to worry about battery exhaustion. It's a great meter.
Pros: Accurate, Compact, Consistent, Strong Construction
Summary: I chose the analog read-out over a digital because it gives me several options at a glance. I do a lot of indoor photography where flash is not allowed and a good incident/ambient light meter is an absolute necessity.
Pros: Accurate, Compact, Consistent, Lightweight, Strong Construction
Summary: When I first got into Cinematography I used the Studio Deluxe II. For years I used a Digital Minolta which I retired a few years ago. I'd been working almost exclusively with Digital video and as such we used a waveform/vectorscope combo to determine exposure. I recently needed a light meter again and as I didn't need one everyday anymore but wanted a reliable well crafted instrument, that also didn't need an esoteric battery, I gave the Studio III a look.