Currently I am developing 4x5 sheet film in stainless steel tanks designed for reels.
With the long edge of a 4x5 sheet going around half the circumfrence of the tank, two sheets will fit nicely. The back of the film only touches the tank on the edges and I have had no problems clearing the anti-halation layer. (except for tmax, but that is not related to this method) However I found that sometimes one sheet will slide over the other. To alleviate overlapping film I bent a peice of thin wire into a nice "W" shape to use as a spacer. (i havent tried it with the spacer yet but I will report back.
The tank i have is tall about 7 or eight inches, i could probably use it for two 5x7 sheets. A smaller tank would be easier and use less chemistry.
I use about 250ml of developer/fixer and I agitate by rolling in my hands, not end-over end like with reels.
Advantages of this method are daylight use, low cost easily available tanks, minimal use of chemistry, N+/- development adjustments.
Disadvantages are long overall development times (20 sheets will need 10 rounds of develop/fix/wash), questionable temperature control (im worried my hands heat up the stainless steel), and possible scratches to the film (I havent had a problem, but the possibility is there)
This method works well for me because I infrequently develop small batches of film, and I dont have a well-sealed darkroom for tray development.