I don't have an F100 but I do have an F5. I do a lot of test with the F5 matrix metering and sending it back to Nikon for calibration twice. My take on the Nikon matrix is this.
Originally Posted by mablo
With flat lighting and a low contrast scene, it's fine and read the same as center weighted.
With high contrast lighting it bias toward the highlight. It seemed that it try to determine the highlight that is important (fairly large, at the focus point etc..) and try to keep that high light from burning out and that's about 2 stops above middle gray or so.
With that it works great with slide film and also with digital. But I shoot mostly color negative film and B&W film is about the same so the matrix meter would be underexposing in such a situation. Biasing the exposure by putting a + compensation or changing the ISO wouldn't work because in a flat scene it would over expose.