In another thread, the OP asked opinions about the Expodisc 2. A stream of opinions were indeed given that answered the OP's question with there being several "camps" about which method to perform WB is best.
Since I have the X-Rite gray card, the Expodisc 2, and the CBL Lens along with the camera's auto white balance (AWB), I thought it would be fun to run a little comparative test. [I was getting too bored counting 10 pounds of roofing nails.] I didn't include in the test the CBL Lens because I rarely use it anymore.
The room lighting was CFL, 2700K, 90 lux and the WB was determined for the ambient room lighting and then with a SB-800 flash added in. The camera was a Nikon D810 with a Macro Nikkor 105mm F/2.8 lens. Hence, four custom white balance setting were determined and two AWB were made.
The results were as follows:
1. The custom WB histograms related to the ExpoDisc 2 for both lighting conditions had essentially identical abscissa values and a narrow/tight distribution, and were dead on middle gray.
2. The custom WB histograms related to the X-Rite for both lighting conditions had very similar abscissa values and somewhat broader distributions. Interestingly, the distribution for the ambient and flash lighting was not as broad as the distribution for the ambient lighting alone; however, the red channel centroid is shifted slightly to the left of the others.
3. The Auto White Balance histograms for the flash and ambient lighting using the X-Rite gray card had a distribution about the same as the custom WB determined using the X-Rite gray card; however, the green channel was shifted slightly to the left of the red channel and the blue channel even more. All of the channels in this case were below the middle gray value. With just the ambient lighting, the AWB histograms were aligned better but with the blue channel shifted just a little left of the others, and all were aligned properly for middle gray.
All of the methods gave acceptable results, but the ExpoDisc 2 performed better than the others IMHO. This is not to say that it will always be the best method, but in this case it was. In some situations, different parts of the scene will have strikingly different lighting so there is no best WB. Thankfully we have RAW to save the day.
I am feeling guilty now since I still have maybe 4 pounds of nails left to count.