Hi LJS - congrats on your Noblex 150. I've looked at that camera and have almost bought it a few times but I just don't do enough panoramics to justify the purchase!

I can answer your first question to an extent - basically if your subject is not far away you can use either incident or reflective. With reflective of course you have to remember that your camera is telling you the exposure is middle gray, whereas with incident, it measures the light falling on the subject. But for objects/scenes that are far away, it would be more difficult (if not impossible) to use incident meters imo. In that case you're better off using reflective metering.