Indeed there are many approaches.

My own opinion is that it makes good sense to jump one generation or so for contact prints, e.g., 4x5 enlarged to 5x7 or perhaps 8x10. But if you enlarge more than that, you might*** see some fundamental limitations of enlarger optics creeping in and dueling grain. At that point an LVT might be more sensible.

***I say "might" to avoid any long flaming arguments.