My initial tests intrigued me, so I decided to take a look at two other low-cost meters, the Milori Trichomat (Sequel Imaging Chroma IV) and the Spyder2. Since I don't have a license for the Spyder2 for CalMan and it doesn't support the trichomat in any case, I used ColorFacts.
Again, the results were surprising and quite revealing. First, neither of these meters have a diffuser, so the user is free to use them either pointed at the screen or directly towards the lamp. I quickly discovered that the meters behave differently in this regard. The trichomat did not yield good results when pointed towards the screen, so it should always be used in the direct reading mode. The Spyder2 was the opposite. It worked better when taking readings off the screen. Odd.
You can use my earlier readings from the EyeOne Pro and Display2 as a reference.
Trichomat gray scale reading
Trichomat chromaticity
Spyder2 gray scale
Spyder2 chromaticity
As you can see, the trichomat, though not as accurate as the Display2, does a reasonably good job when pointing directly at the lamp. The Spyder2, on the other hand, is not very accurate. Based on earlier testing, I determined that the trichomat does a better job than the Spyder2 with CRTs.
All in all, I can't recommend the Spyder2. The Display2, especially the LT version, is very inexpensive and performs much better. In fact, at least with a DLP projector it performs essentially the same as the much more expensive EyeOne Pro spectroradiometer.