Thank you for the response!
Yes, I understand the inverse square law, but it would be irrelevant in say - this situation :
I am photographing a mountain scene at the "golden hour" from the bottom of a valley (where the sun has already set), but the mountaintops are being lit by golden sun. In that situation, an incident light meter is useless, is it not - that is, if I want to expose for those mountaintops?
If you are at "the bottom of a valley", then it sounds like you are NOT in the same light as the golden peaks. An incident meter would meter for the exposure at the bottom of the valley.
All this said, I think I understand how I would go about metering a scene using a spot meter. I would use it to get the dynamic range of the scene and expose accordingly. In other words, if I'm shooting the Ektar color negative film, I would just find the deepest shadows in the scene (where I still want detail) and spot meter there. If the meter suggests a shutter speed of 1/60, then I understand that this will overexpose those shadows to the point that they are middle gray. I get that part. So, I'd just decrease the exposure by 2 or 3 stops to put the shadows back where they belong and shoot at 1/250 or 1/500 and not worry about the highlights so much since this particular film is all but impossible to overexpose (from everything I've read).
Sort of a hard question. Measuring dynamic range would imply using a spot meter to meter the dark shadows, and then the bright highlights, and doing some calculations and some thought to decide how you want it to come out (using the one single exposure that we can implement).
Yes, it is very important to realize that a spot meter does NOT automatically give any correct exposure. Spot is never about "correct". Spot will simply try to make the selected spot come out middle gray, whatever spot you select. Beginners never realize that some skill is necessary to use Spot metering.
The real advantage of spot is simply to ignore the surroundings. Like a face surrounded by shadows, we want to meter on the face. But we probably don't want that face middle gray, so we have to know to add maybe +1 EV compensation. Experience will be very helpful with Spot metering.
On the flip side, if I'm using the slide film, I think the dynamic range of the scene is much more important - since the Velvia film only has room for about 5 stops of range - a spot meter would be absolutely necessary to determine (please correct me if I'm wrong about this). I don't know how an incident meter could determine this. Using the spot meter, if the range is within this 5 stops, I would go with the Velvia and use the spot meter again to determine the brightest areas of the scene (opposite the method of the negative film), and then add 2 stops of exposure (since the spot meter will under-expose this time to the point of bringing the highlights down to middle gray). Being that I've used the spot meter already to determine that the dynamic range of the scene is 5 stops, My highlights will be +2 and my shadows will be -3.
Sorry, that is not my call, I don't really want to go there, into that special case.

Not the numbers, because Sunsets are more difficult than the normal exposure, and depends very much on how we want to make them come out. I think there are no set rules, or standard choices. It requires some thinking, and an opinion, and some trial tries..
In contrast, the incident meter in more normal cases, esp including studio flash photography, makes it all be very easy and precise, if all we want is a good normal proper automatic and correct exposure of a normal case.
A am very green here, so if I'm way off somewhere, please let me know. This is the method I feel most comfortable trying first. I know I'm going to need a spot meter. My problem is whether or not I also "need" an incident meter for what I'm trying to do - as the incident meters that have the spot meter function as well are very expensive!!
For now, I can use my DSLR for a spot meter - even though it's not "really" a spot meter. It's a partial meter so it covers about 10% of the frame vs a "real" spot meter which I think only meters 1% of the frame.
This may depend on the camera. My Nikon D800 says its spot metering is 4mm diameter, or 1.5% of the frame. That is 1/6 of the frame height however, but it is 1.5%. A D7200 says 3.5mm diameter or 2.5% of the smaller frame.
But I do understand that if I am shooting a landscape in the distance and the only light falling on that landscape is natural light from the sun and its a clear day, the incident meter will give me a reading consistent with the lighting on that distant landscape as well. I perhaps should have clarified.
I guess the modified version of the question should be :
Is there any benefit in investing in an incident meter if I am aware of the necessary adjustments in using a spot meter?
The reflective meter, including the spot meter, are all dependent on the way the subjects colors reflect light. We cannot simply meter anything, we have to consider the subjects reflectivity, and how we have to interpret/compensate that reading to get a "correct" exposure. Many average mixed scenes might often come out OK, but very many exceptions certainly do not. For example, if we walk up to a white scene, or with a white background wall, we already KNOW our camera meter is going to underexpose it. Experience gives us a good idea of how much. So we simply correct for it. I think your golden peaks are also not "average".
Incident meters can remove that problem, so I say yes, an overwhelming advantage regarding getting a correct metering automatically. We can ignore the subjects reflectivity, not a factor. We do have to meter at the subjects location, but we get a correct metering of the actual light, suitable for exposure as is. Your sunset might modify that, you likely do not want a "normal" exposure.
I think we would value the incident meter for that reason. But if you're going to piddle with it and set it by trial and error anyway, then the incident meter probably won't help.
However, real world, I have many years of learning how reflective meters work, and so I really never consider anything but the cameras meter outdoors, or any normal snapshots. I have learned to deal with reflected meters. Metering in the camera is less awkward to do, and is convenient and fast, if we know how to deal with it. You speak of film, so proper metering is obviously more important. Whereas digital lets us see the result immediately, so we can always fix it.
But the camera won't meter flash, or other difficult cases are difficult. I consider the incident meter absolutely mandatory for studio flash, where I have to get four lights all adjusted relative to each other (for ratio, etc), and probably repeating the same setup as I used them last time. I simply just set them to meter what they need to do. There is no other way to do it (repeatedly).
Here is an article about that:
Why would I need a handheld light meter?