I like grade 2 RC paper for negatives; my preference being Freestyle's Arista brand; it's good quality and the price is right.
The graded paper has less contrast issues than do multigrade in daylight, due to the blue/UV sensitivity of the high-contrast portion of multigrade's emulsion. The unique thing about graded paper negatives is that, unlike any other sheet film, you can gain control of the negative contrast by the choice of paper grade, rather than just one's development method.
I rate Arista grade 2 at an exposure index of "2" for my purposes. But keep in mind that I also use a solution of partially exhausted paper developer (Agfa's Neutol WA), mixed more dilute than for normal printing purposes. So I intentionally develop these negatives slowly -- typical times being 3-4 minutes -- and pull the negative when the highlights have sufficient detail without the shadows blocking up.
For printing I find contact printing directly to a fine art paper to be sufficient in quality without having to wax or peel apart the paper negative. I use a condensor enlarger as a light source for contact printing; I'm not certain if the collimated light of the condensor head has anything to do with the sharpness of my contact prints, but they're sufficient for my purposes. The paper backing of the negative acts somewhat like a diffused light source.
I also have much less dust issues with my final contact prints, since dust on the backside of the paper negative just doesn't show up on the front side.
~Joe
PS: I forgot to mention that I often "preflash" my paper negatives, prior to the in-camera exposure. This I do in the darkroom, using a dim light source dedicated to that purpose. It's a 7.5 watt, 120vac, standard base lamp (type S11) in a metal soup can housing with a ~3mm hole in the bottom, suspended 30" above the work surface; typical preflash times are 8-10 seconds, enough to render a faint, light gray tone on an otherwise unexposed but developed sheet of paper. This has the effect of improving shadow detail (hence further controlling contrast) without blocking up the highlights. I had earlier tried using my enlarger for this purpose, but even at F/32 and the head all the way up, exposure times were too short -- 1 or 2 seconds -- to be accurately timed.
PPS: I've done some work with the Efke direct positive paper. I'll post a link soon to F295 where the results are posted.