Well with my cameras that have it, it's more like a quick setting of the meter. I compose so as to meter the area I want to meter, tap the memory lock, and re-compose. Very fast, faster than twisting dials to light LEDs or match needles, with the same result.
Originally Posted by StoneNYC
If you don't want to ever use it don't get a camera that has it and try it then - it's addictive. I can shoot ALMOST as fast with my all manual MX or using my LX in manual mode - almost.
EDIT: Read your signature. I think the AE1 has it and I'm (almost) sure a 1V would.