Hi, new member. Last night I had pretty much the same experience with the metz 54 as yourself.. massive underexposure.. but the stage was just as far off. I tried in pttl, auto, and even manual modes. I thought I was doing something wrong. At one point I had the pop-out diffuser on the metz down which for some reason seemed to actually prevent me from altering any of the parameters on the unit
Black photos.. or underexposed by SEVERAL stops with that down.
The (not so) funny thing is I've found I get some exposure problems with studio lights, too. I shot about 700 pics for the town a couple weeks ago with a pair of AB400's and metered the exposures ahead of time with a hand held meter. Foolishly I never checked the histogram and shot at the metered setting. Long story short I was adjusting levels on hundreds of photos a couple of days later.
Checking the flash last night after the Christmas show I noted that the pop up flash and the Metz seemed to be pretty consistent with underexposing on various settings. Is it possible that the K20D is actually doing something and it isn't the flash units that are somehow at fault?