The meter should be fine. Be sure to test it on yourself first to make sure it is reading accurately, and to be confident in how to use it before you try it on the cat.
We'd suggest getting a few numbers before completely switching foods. You might start by adding a bit of wet along with the dry, gradually increasing the wet while decreasing the dry. Once you are confident with testing and have some numbers, then you can safely take away all the dry.
We test, feed and shoot. We want a number that is "true" - not influenced by food - so we test before eating. We would like some food in their tummy before giving insulin, so we feed next. Many of us give the shot while they are eating and they don't even notice.
For now, until you have some history of numbers and how he is reacting to the insulin, no shot under 200.
Just for reference, a regulated cat, on insulin, is in the 200s at preshot and double digits at nadir, but not under 40. If you get a number in the 40-50 range, come on and ask for help. You may need to intervene with higher carb food to bring the number up. (Be sure to print off the hypo info in the thread at the top of this page)
A cat in remission, off insulin, can range from the 40s to 120s with the majority of the time in double digits.
What insulin and what dose?