The Minolta color meter II had its peak in the pre digital era, and was found in allot of photography studios. They used to color correct slide films to remove color cast. Now with the digital era the color meter has a comeback, at least it has for me. Being able to measure the color temperature (kelvin) you get accurate white balance, and you spend less time post processing you`r pictures. Even when you shoot in raw, the color meter has it advantage. But hey, you can change the white balance in a "raw" program, like Nikon View you say, yes you can, but with a color meter you get the accurate white-balance, and not the white balance our eyes "tells" us is right looking into a monitor.
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Price paid: 180 USD (second hand) This item is discontinued.
Value is dependant on price, specially for digital photography. Since I paid 180 USD, I would say the value for that money is really good. I was not very interested in a color meter until I actually tried one for a couple of days. You can really see a big difference in the pictures, there seem to be a bigger difference on the D2H then the D200, to me it seems that the D200 has a much better Auto white balance setting.
*Prices are subject to change. Listed price is from July 31, 2009