I just took delivery of the Sekonic 208... after twiddling around with it, I think it's hands-down the best compact meter.
My main comparisons are with the VC meter II, and a Weston IV. The former is dinky, pretty good in low light, but quite slow to use, and unreliable - the ASA used to get knocked out of position, I've managed to tighten that, but I still find the exposure wheel often loses its setting, too. This isn't a problem when the meter's on a Contax for some reason, the wheels must simply be less vulnerable, but it is a constant pain on an M3. Plus, of course, when you need a finder there's no space for the VC. I will still keep this for when I run out of doors in the morning with a camera and can't be bothered to pick up two objects, but if I had to sell either the VC or the Sekonic, it would be the VC (which is also more expensive).
The Weston is of course a beautiful object, doesn't need batteries, and will last forever. But if I haven't used it for a few months, it takes me several seconds to remember how to take a reading. Its rugged mechanical feel and weight is part of its charm, but I reckon I could bring along my G9 as a meter and it wouldn't feel any bulkier.
The beauty of the Sekonic is it's just so simple; no numbers to worry about (altho it has an EV reading if you need one), you simply move the blue needle to match up with the red needle which indicates the light level, and you're there. The VC uses two readily available batteries, the Sekonic just one.The 208 is so light and compact you could have it in your jeans pocket and it wouldn't be a pain (do the same with the VC, or leave it in a bag, and you could be left with flat batteries).
Quick & dirty size comparison: