Sorry for late reply. Yes I use this method most of the time. I should have explained my needs better.I don't pay attention to the exp comp "values" on the meter. I just look through the viewfinder as I rotate the ring and when the scene is exposed the way I want, I shoot. I don't worry about the value of exp comp.
WYSIWYG through the viewfinder isnt best for me when I'm doing fast birds like peregrines in an urban environment, which I do a lot of. I need an old fashoined reference point like current exp comp (or a dial with distinct clicks which the lens control ring doesnt have) in order to handle more than one stop of EV change over the space of a couple of frames or so at 20fps. They move rapidly between backgrounds with very different brightness and tonality (buldings/sky). I use fixed ISO if I can (which deals really well with changing background brightness/tonality) but when the overall lighting keeps changing, knowing exactly where I am with Ev comp in real time works best for the best exposure.