I've actually never used the shot meter, ever. I turned it off when they introduced it a few years ago and have never turned it on. And I've had no complaints. I feel its more realistic without it.
The key isn't timing your release, its taking good shots. I only shoot when I have space, and only with players I know can make the shot. Ratings matter more than shot release timing. Steph Curry can shoot everything bad release and make just as many as Rondo shooting everything with perfect release.
Now, that's not to say timing isn't pointless. You generally want to release your shot three quarters of the way through the entire animation. I just simply release the shot when it feels natural to release it (for example, when you shoot, you use a lot of your legs, so if you release the shot right before you reach the top of your jump, you'll have the most lift and the most control on your shot, as opposed to releasing it as you start to come down).
I also understand that players only shoot 40 percent, on average. So I'm totally okay missing half my shots (as long as the CPU does the same!
).
There is only one player I refuse to shoot with because he never makes it but should make it at a very high rate. That's Ryan Anderson. His animation might be broken or something. I've never figured it out. Maybe the shot meter might help there!