The Seconic L-795DR has everything I want in a light meter. It can do reflected and incident light metering for both ambient and flash exposures. Instead of listing a bunch of numbers I'll go over a few key functions that I think makes the L-758DR worth its price.
For starters, it comes with a built-in RT-32CE module to communicate with Pocketwizard radios. It even supports channels 17-32 and thus quad zone triggering. How about that? For those of you out there stuck with using cables, it also has a PC Sync port.
To make things easy, it has a swivel head and a retractable lumisphere. The display is back lit and comes on automatically at levels below EV 6. Furthermore it has flash analyzing function to easily determine the percentage of flash in the total exposure. The built in memory can save up to 9 different comparable readings.
My experience tells me that Sekonic's light meters are very reliable and will without a doubt show good results right out of the box. But, if you want absolutely correct readings, specific to your camera/lens combination, I recommend that you get the optional Sekonic Exposure Profile Target II.
(The info below on how to use the Sekonic Exposure Profile Target II and the Sekonic Data Transfer Software can at the time of this post be used with the Sekonic L-758D, L-758DR, L-758Cine, L-478D and L-478DR.)
To get the most out of your (expensive) Exposure Profile Target II, you will have to do both an incident- and a reflective reading.
Start by placing the target in open shade, grey side facing the camera. Take an incident reading and write it down. Now take a reflective reading and write that down. Note: the 1/10 stops are just as important.
Preferably, use a tripod and stick to full stops. I had to give it a few tries before I figured out that my meter was set to display 1/3 stops. So before you start shooting, check that your meters custom setting no.3 is set to 0.
Flip the target over to the grid side. Set the camera according to your incident reading and click the shutter. Then adjust your exposure three stops over, click. Then three stops under, click.
Now have a seat at your computer and download the Sekonic Data Transfer Software.
Install it, run it. Duh.
From here on, there are a few different ways to continue. I chose to use "Quick mode" and I never had any problems. Then I simply followed the 5 steps. To sum it up, you simply connect your meter to your computer, enter your readings, upload the pictures and the software will calculate a profile suitable for your camera/lens combination. Note: if you switch lenses, you will have to make another profile. Now, if you did things right, you have a very, very accurate light meter.
Now I bet you're wondering if there are any downsides to this meter. Well, yes. Its size for example. It's probably larger than most compact cameras on the market and takes up its fair share of space in the bag. Then there's the batteries. The L-758DR uses one single CR123A lithium battery. It lasts forever, but it's not the kind you can find in any store.
What else is there? Well, a tripod mount, weather sealing. Oh, and a lanyard. I think that about covers it. At least the important parts.
In summary: the L-758DR can do anything I need it to, and then some. I would be surprised if there even is a better alternative for the photographer that regularly uses multiple flashes in the studio. But if you're strictly into available light, there are smaller and much cheaper models to go for.