The $64,000 question then is how do you consistently get proper ettr exposures without reference to the histogram?
If I could copy and paste from another forum, the reply to that question (it boils down to, it depends):
I never shoot JPEG. I never pay any attention to the Histogram or clipping.
If I have control of the situation I'm shooting in, certainly a setup where I'm lighting the scene and have time, I'll implement ETTR based on what I know about the sensor.
I also shoot a lot "from the hip" (just friends at an event, having dinner or something). Usually low light. ETTR just doesn't work as I'm always wanting either higher shutter speeds or depending on the lens, its not fast enough to lose that extra 1.5 stops. The preferred lens I use in these situations is a 35mm 1.4 but more often I'm just taking along one lens, a 24-104mm F4. The new 5DMII certainly helps being at ISO 3200 in some cases. A sharp capture is always preferable to one that isn't even if there's less noise (duh).
If the light is changing a lot and again, I'm shooting quickly and have little control, ETTR isn't going to fly. I don't want to clip highlights! I'd rather have a "normal" meter exposure with more noise in the shadows as opposed to really clipping highlights. I can't get that data back, I can deal with noise.
Ultimately, whenever the situation allows, I bracket! There's never any downside there. That would mean something that allows the time to do so without losing a shot (so no, I would never bracket shooting people or something moving that might result in the better shot being poorly exposed).
Sometimes I'm using an external meter (a Sekonic that has both spot and incident capabilities) but quite often, I am traveling light and use the camera meter.
Again, it would be really useful if the feedback on the LCD were based on what I'm actually shooting for, the Raw data. I'm not sure why the camera manufactures don't provide this option, seems easy to do.