After I learned the basics of photography, and began taking it seriously, I shot without a meter. It doesn't take long to get really good at reading the light if you stick to one film, one camera, and similar situations. (Outside during the day, for example) Now though I shoot a few different films, in several different cameras, in all kinds of tricky lighting. I like to carry my trusty gossen digisix with me any time I have a camera.
It's small, light, relatively cheap (for a meter), and it has enough range to be used with any camera/lens/film combination you can think of. I don't meter every shot, but take another reading whenever the light changes. It's an averaging meter, with provision for incident, but I find it's not hard to compensate for situations that might give a false reading.
Granted, it's not as quick as shooting with an in-camera meter, but then my IIIf is not the first-choice for high-speed action photography.