It does actually. It's a bit of a discipline, but once you are used to using it, the light meter is invaluable. Being able to walk around set testing and tweaking lights without constantly checking the monitor and knowing exactly how it'll look as if you were looking at the monitor is priceless. The light meter is one of the best investments I've made in this industry next to my senior Magliner :)
One advantage of using a light meter on a video shoot is that you can measure the light close to the instrument instead of being stuck behind the camera. You can take a reading on the set, reach out and adjust a light, then take another reading. Much faster.
Also, one person can adjust the lights while someone else is moving the camera, or changing a lens.
I'm looking at the L-308DC DigiCineMate, which is designed for DSLR shooters.