Originally posted by CMG ...Then again, it is my understanding that 1/3 stops are a relatively recent development in digital photography, whereas in the "old days" of modern film photography stops were only 1/2. Sometimes I wonder if 1/3 stops were created more the EV compensation in auto-modes and since it's built into the camera it can be used in manual mode as well but not really why it was developed. Thoughts??
On the shutter speed dial of even a higher-end all-mechanical film camera, like the Pentax MX, speeds are only in full stops. All-mechanical (i.e., M series or older) lenses don't always have half-stops either. With a lens, you can put the aperture ring in between and get an intermediate aperture, but I don't know about shutter speed.
As soon as shutter speeds could be controlled electronically, though, cameras started to use them. Pentax introduced that feature even before the K-mount. The shutter could have any speed so the ultimate exposure value was infinite, even if you were stuck with using film at its rated ISO and the click-stops on the aperture ring. With the KA mount, apertures could match the shutter speeds. At first these abilities were only in auto modes. It took a while before the cameras allowed you to set 1/3 stops directly like you can now, not just in auto modes.
I think partly the 1/3 stop feature was added because they could easily do it, and partly because it could be useful. The real question is, how well can your meter measure the scene? With either scale and an unsophisticated meter, you'll have to make constant adjustments to get perfect exposures.
edit: in one of my Photoshop books, there's an example where the author increases exposure in Adobe Camera RAW by 0.89 stops. I think he missed the discussion of significant digits in science.