Optical interferometers are typically categorized by their source type into incoherent (white-light) and coherent (laser). Both approaches provide adequate solutions for many measurement applications, offer unique advantages, and suffer distinct limitations. A novel interferometry method, spectrally controlled interferometry, is presented, which successfully merges many advantages from both categories while bypassing some of the limitations. The relationship between measurement accuracy and fringe stability as a function of fundamental control parameters is explored. Surface measurements of common optical components are presented, and method specific noise sources and measurement accuracy are assessed as well.