There is an accessory called the Polar Meter which may help if you don't want the polar scope. I'm reasonably certain it will work in the same way for the southern hemisphere and it does look like it will give more accuracy over the built in meter.
Basically does what you are already doing with your compass an inclinometer.
http://www.vixenoptics.com/mounts/35511.html
It does seem to be available in the US via OPT corp, not sure of anywhere else though