Frank, I have not tested Ilford FB but here are some results with other papers for comparison.
Agfa MCC111 Multicontrast Classic with a Stouffer half stop step wedge and my LPL ( Saunders in USA ) 4x5 enlarger at grade 2 gives 12 steps visible,
counting the first step as that just darker than base white and the last step as that just lighter than black.
Ilford MGT.44M warmtone RC gives the same number of steps at grade 2.
I am using a colour head with 41Y, 32M for grade 2.
Grade 3 gives 10 steps visible.
From memory I think the overall contrast of Ilford multigrade FB is similar to Agfa MCC.
Andrew