I use my enlarger, set up for 6x6 format (because that's how it usually is). The lens is set about 24 inches from the easel and set to f/32. I slip a test strip partly under an easel blade which provides some holding and also a masked reference. I then lay a string of small metal washers along the exposed area of the strip. I expose the whole thing for X, cover one washer with a black cardboard, expose again for X. I then work down the string at exposures of 2X, 4X, etc. That gives exposures of X, 2X, 4X, 8X, 16X; eg., stops. That's a quick way to zero in on the general range. I can then refine to a short series of smaller increments if desired. On my setup, X was 0.2 seconds on Arista.EDU RC Grade #2 paper.
Note that some feel multigrade paper is problematic because of varying contrast versus color. Of course the graded paper is mostly blue sensitive, which still contributes to burned in skies. (And excess contrast seems to be the biggest obstacle with paper negatives.)
So far, the whole process is still a work in process here. Please note also -- it's good to point the emulsion side toward the pinhole! I managed to miss-load one of three filmholders on WPPD -- and naturally, took two of my three shots with that holder, I learned afterwards.
