i Have recently tested this L -meter
http://apexys-toan.blogspot.in/2011/02/ne555-based-inductivty-meter.htmlIt works very nicely in uH range
with some tweak did 10mH range too
I suppose with constant L we can use this a cap meter
I like as it is vv simple , all ppl have a n xtra 555 and sm spare NPNS
There is an issue , if no coil is there it over shoots ....may damage analogue meter
i came up with a preventer ckt as in the attachment ..please share your views