Originally Posted by
GrumpyDiver
I think that any extremes are going to be more difficult for the camera's algorithms to get right. This is purely based on how cameras have been designed based on the drawbacks of reflective light metering. If a light meter balances exposures to the 18% (or 12%) grey scale value, it is going to give you incorrect measurements in the marginal lighting situations, and this is of course why the manufacturers build in exposure compensation controls, different metering modes, etc..
On the other hand, outside of these marginal lighting conditions, the camera works just fine. This is really no different than the arguments that Urban put forward regarding AWB; there are known conditions that even a modern camera cannot handle. Fortunately, the camera designers and manufacturers have come up where I get a proper (or perhaps "good enough") exposure at least 95% of the time.