The histogram IS your (mine too) best friend because it confirms
or not that the recordings are right. It is only through the quality
of the said recording that consistency will be possible.
I use the histogram both in camera and in post to gauge where I am, but a histogram doesn't always portray what you want the final image to be. Some would have you believe that if you just produce a symmetrical Bell Curve, with each edge touching the ends you'd have a perfect exposure, but in reality you rarely see a Bell Curve. The histogram represents 256 shades of gray with 0,0,0 being solid black and 255,255,255 being solid white. In the real world, tonal distribution is all over the place, in a high key for example you'd see data loaded to the right, while low key will show it all on the left. and for some you might only have data in the middle. For example here is one from an accomplished photographer that posts on TPF the image is beautiful.......but it you were to only use the histogram, to gauge the exposure, you wouldn't think so.

There's almost no data in the shadows and almost none in the bright highlights. Going the opposite way, here's one by a certain photographer whose work you're very familiar with. It's a low key image, also very well done.

But again, if you were to only use the histogram to gauge the exposure. this would have ended up in the trash. That's when the Qualitative Metrics come in.
but remember the histograms are of the jpg image you are looking at on your cameras lcd panel. So all your jpg settings, even if you are shooting raw, are being shown in the histograms. That's why you hear ETTR because the camera usually gives you about 1/3 of a stop more room on the high end when shooting raw. If you can't make the blinkies go away or make the histogram fit, then the dynamic range of your subject and background is greater than the dynamic range of your camera.
Good point, I've learned that I can go all the way to the blinkies without blowing the whites. I don't chimp every shot, but in the past I've always leaned toward creating a full data file (at least some data stretching from the left side to the right. Now I'm beginning to wonder if the quest to fill the file, only to clip it in processing isn't an exercise in futility. Your camera sensor, or you handheld meter is going to expose for 18% gray, point it at snow, sand, or other reflective object and it will overexpose. It requires reducing what it tells you by 1.5-2 stops. So, here again it's experience behind the camera that gets the correct exposure.