Most people use the meters on the recorder/bitbucket. For instance H120's with Rockbox have good meters. The notable exception is the JB3, which has pretty tiny meters, then the SVU1 becomes handy.
As a point of reference, it's generally agreed the red light on the UA-5 comes on at around -3 db (maybe -2). So if that just flickers once in a while you are good. If it's on steady, you are too hot.