Originally posted by wlachan I bought the 540FGZ new some months ago but eventually sold it for this exact reason. It's not about 1 or 2 EV underexposure, it's simply not consistent in P-TTL mode. For 2 shots which were 95%+ identical, the actual exposure could be way different. That means each shot must be treated individually, and often not quite practical, and certainly not what P-TTL flash was designed to be. Ironically, A flash worked great but all auto settings would be disable (but why?). Eventually I moved back to my Metz 40MZ-2/3i flashes in A mode. If not for the HSS or wireless, I see no reason for Pentax made P-TTL flashes, not to my limited mind anyway. But some claimed linking the camera's AF point to AE would solve the problem, I didn't keep my flash long enough to find out. You might give it a try and report back.
I tried that trick.
I'm extremely tempted to return it to B&H. It seems like underexposure is an extremely common problem, and I'm better off finding a "manual" (in reality, same as "auto" non-TTL mode on TTL-capable flashes) Pentax module for my Quantaray QTB-9500 - other than the lack of TTL/P-TTL for Pentax it's a damn nice flash, I especially like the built-in secondary fill flash. (It appears to be identical to the highest-end Promaster flash, and likely is just a rebadged Promaster.)
Edit: I've found that putting it in X mode with the aperture set to 5.6 or so gives far better results, on par with "auto" mode.
Auto mode works extremely well without any exposure compensation tricks. (i.e. camera set to f5.6/ISO 100 and flash set to same) I haven't tried seeing what happens with the flash set to 4.0 or 2.8 (the latter only possible with my manual primes). Auto mode does work incredibly well with my manual primes - in fact shooting with K/M lenses (i.e. pre-A) is far easier with the AF-540 in "auto" mode than those same lenses in daylight - don't need to hit the green button for metering.
So far, I have yet to see a single situation where P-TTL works and Auto doesn't, if I could be sure the old Quantaray still worked I'd return the 540 in a heartbeat, but unfortunately the QR is in New Jersey and had issues last time I worked with it, but that could have been a problem with my hacked up "digital slave" module that was made by adding a slave trigger circuit to one of their "manual" modules. Since I have no way of testing the old Quantaray any time soon I will probably wind up keeping the 540 and hoping P-TTL gets fixed somewhere down the line with a firmware update.
One more edit: Some people claim that the underexposures are occurring in "difficult" scenes with reflective objects or lots of white. My 540 underexposes even when spot metering on a matte black object. Such a situation SHOULD result in massive overexposure but it actually still results in underexposure!
Another edit: I've had a bit more time to fool with it. Today the flash in P-TTL mode was only slightly underxposed (so slightly that I would be worried about blown highlights if it were any more aggressive) in most situations with the camera in X mode with multisegment metering at most aperture settings. Spot metering on a dark object would actually cause significant underexposure, the exact opposite of what one would expect from spot metering on a dark object. If the camera was in P mode, it would underexpose significantly at the same aperture settings as in X mode.