If I am shooting 35mm I have a standard ei for each film and developer combo. But I still bracket one under and one over my ei. Film is cheap and if I don't have a spot meter or am shooting street stuff that ensures i get one good negative with normal developing. If I think I have something really special, I might record the exposure number, pull the canister and clip use tailored developing time for that specific neg and sacrifice the rest.
With sheet film I always use a spot meter meter highlights first and then set the shadows on IV and determine development from there. One thing I noticed right away when i strated using staining developers is that you can really open up shadows mtering for IV and not worry where the highlights fell because the compensating effect would tame the highlights. Then it is up to the paper and developer combo. I think this is why contact printing and AZO have become the rage. The more people move to PYRO based developers the more you need a paper that can record the information. Once you use a paper that produces a greater range of tones, you need to go back and adjust the exposure and devlopment regimen to take advantage of the materials.
I guess what I am getting at is it doesn't really matter how you determine exposure, but you need to consider all the materials as part of the equation.