Spot meter is valuable if you know you want a specific object in the frame to be exposed a certain way. For example, last night I needed to use the GH1 to shoot a still image of a chair under some lighting I had set up. To make sure I had perfect exposure, I set a photographic gray card I bought for $10 on the chair. I set the camera to spot meter mode and placed the crosshair over the gray card. I adjusted the settings until the +/- meter showed 0. Then I knew the exposure would be perfect. I removed the gray card and took the shot. Sure enough, it was perfect.