I use step wedges in the manner outlined in the Sullivan & Weese book on Pt/Pd printing - its basically a good guide for both contrast and exposure times of different combo's of paper/exposure/contrast agent/developers etc...
With a light box they can be used as substitute densitometers by simply comparing the lightest and darkest points of a neg - then looking at your pre-printed test strips in paper you can then figure out which combo will work best for the print (usually just exposure and contrast)
The book takes a chapter to explain it - I hope I have made at least a little sense ...
And yes, I guess there is no reason not to use them with silver (multigrade especially)