But you still don't know what gets lost between generator - transmit antenna and receive antenna - receiver. For that you'd need to measure the SWR at your test frequencies and compensate. A while ago I read a report from R&S where they use 2 different antennas in 4 combinations in order to retrieve antenna gain versus frequency.
I have a rf bridge so I can measure SWR. If the sig-gen sends 10dBm to the antenna and 3dBm is reflected, then I know that 7dBm is being transmitted into the ether. Both the Roberts balun and the antenna are entirely reactive (no power lost to resistance). The same applies to the signal path from the antenna to the receiver (spectrum analyzer).
The unknown I am trying to find is the gain vs frequency of my antenna. In an ideal world, I could mount an isotropic antenna (gain 0dB) on one end and my antenna on the other (at a known distance separation), and measure gain directly. No one will sell me an isotropic antenna, not even R&S, so the next best alternative is to make the connection between Rx and Tx with a cable (gain = 0dB, no separation loss). That provides a reproducible reference.
So the problem is then that I don't have a calibrated antenna as a substitute for an isotropic antenna. If I mount two identical antenna (known separation) with identical gain vs freq, then I can simply measure and calculate the gain.
If the matched antenna pair measure a gain of 10dB, then each antenna must have 5dB gain. That is it. I can then produce a measured, verifiable gain/freq curve for my antenna.
So I don't need a VNA to do any of that. It would be useful to measure the impedance of the antenna so I can match the antenna to the balun.
I do plan to use a 3rd antenna (any old coat hanger would do) specifically to look for any difference in the gains of my individual antenna. If they are identical, the gain/freq curves will also be identical. I am putting a lot of effort into ensuring the two antenna are identical. I am working to far tighter tolerances than are necessary to build a biconic antenna.
So a VNA would be nice and I want one, I just don't need it for a one-off antenna project.