I didn't spend $900 on my SPL meter, but it isn't a cheap one either. It cost about $70 (if you can really judge quality by price, which I doubt.) It does the job I need it to do.
I own several SPL meters, some about the same as yours, and one much more expensive. For rough level setting, any of them work fine. For calibration, none would be adequate.
The problem with audiophilia on both sides- the true believers of snake oil and the super-scientific skeptics- is that they both get totally lost in minutia. Horse sense is greatly lacking. Precision in calibration is a good thing, but it isn't the destination, it's just a start. Any real world listening room has strengths and weaknesses and balancing your compromises can emphasize the strengths and reduce the weaknesses. That means (gasp!) tweaking your calibration a bit. Precision is great if you have a perfect system, perfect speakers and a perfect room. But that's the domain of recording studios whose business it is to be in perfect calibration. At home the goal is a little different- to get the best sounding music possible in the space you live in.
Then there are those of us who have been trained as professional calibrators. We know about acoustic strengths and weaknesses, as well as compromises. However, the first tool is good data. You get that with precision measurements and proper measurement data processing (not just an SPL meter, and not just an RTA in the LP). I'm not going to take the time to outline the whole procedure, but I guarantee getting "lost in minutia" would loose me money, and so I don't do that.
But I can confirm that while a useful tool, the SPL meter is not what we use to calibrate systems.
I've seen people walk down this road before....
Your equipment isn't good enough > Your system is good but it can't sound good unless it's properly calibrated > The meter you used isn't precise enough > Your meter was precise enough but your room might be messing up your reading. Try EQ. > EQ is a crutch. You need to do room treatment. > Your room treatment didn't correct all of your problems. > It's impossible to be truly 100% calibrated. > I give up. I'll just buy more expensive equipment. (return to beginning).
Yep, I've seen that taken to extreme. How about a system built up with $400K of gear placed in the worst acoustic environment possible? Yes, I was there. The challenge wasn't in calibration (which was almost impossible), it was in convincing the owner of what he had to do next.
BTW, I've found there is no system...NO system...that cannot benefit from precision EQ. The trick is now you perform the analysis, and how you respond to it.
I believe in a broad strokes approach. I take what I have to work with and I optimize it as best I can, addressing the big problems first. If you dive straight down to the detail level, you never get close to what you're trying to achieve. First things first. When it gets to the point where you're almost all the way there, sit down and listen to some music and remind yourself what your REAL goal is.
Part of a good professional calibration is, in fact, listening to well known test material, and at several points along the way. We also start with broad strokes, but then use smaller and smaller brushes. The last tool is the recognition of the point of diminishing returns, and stopping short of hitting it head on.