Yes exactly. You learn where you want to put the tones. For example, a landscape photograph with fluffy clouds will be very different to a portrait of a person. The burn-in feature is very useful for clouds; when you meter a fluffy cloud in a blue sky it is likely that if you adjusted the exposure time to get the cloud to print the rest of the photograph would be too dark. Instead, you can leave the cloud value flashing (indicating inadequate exposure time), adjust to get the rest of the photograph right, expose and then burn-in the sky (the analyser will calculate the required time). You can even burn-in the sky at a different grade if wanted.
It's a wonderful tool but like any tool it takes time to learn how to use it to best advantage.
Incidentally, to the OP, although it rather defeats the object of a multigrade head you can use white light and either above or below lens Ilford Multigrade filters. If you do that the default analyser calibration settings are likely to be very close to spot on.