You can't get an accurate CR reading with a colormeter from colorfacts
JimmyR gave you some bogus information. In fact, there's been a lot of careless talk about what ColorFacts can and cannot do. As Darin points out, using the Trichomat, ColorFacts offers quite reliable light readings. You have the Trichomat and a neat wizard. For Christ sakes, use the tool you have and stop agonizing over this. This is not rocket science. Just be sure to do your dark reading first and then get a good aim point. You can use the Continuous reading mode with the Luminance instrument. Put the Trichomat on a tripod facing an 80 IRE window and adjust it until you get the highest light reading. That's your aim point. Now just run the wizard. The whole process takes maybe 10 minutes.
I thought I'd provide some real data to the black hole that is this highly speculative thread. I took a CR reading with the meter approximately 5 feet away from the lens of my HS20. Here's the result:
Then I took another reading with the meter approximately 10 feet away. Here's what I got:
As you can see the result is almost identical. So, no you don't have to have a black reading above 0.07 to get reliable results. And no you don't have to set up any fancy Rube Goldberg device for channeling the light. And, no you don't need an extra light meter. Just use the product as designed and it works fine.
One thing I learned from this exercize is that my PJ is steadily loosing light output and CR. This is no great surprise, but it's annoying to have the numbers stare you in the face.
Now, in the name of all that's holy, would you PLEASE run the CR wizard on this PJ and report the number?