Once you have done a few (dozen) times you get to know what the feel is like. So there's no issue with doing it that way at all. The book says something like 7 to 12 lbs from memory. I have found though that if you do this properly then even with new bearings they don't need adjusting again. OK so that probably came out wrong. But when you buy a brand new Cruiser, you don't take it back after 100 miles to have the bearings nipped up do you.
I tend to slightly over tighten, spin the hub back and forth to settle the bearings then start to back them off to get the right readings rather then tighten them to get the reading if you get me. I have gone back after 20K miles and got the same readings on hubs done this way. The FSM doesn't say over tighten then work back, but then that was written along time ago when these vehicles were new. I think that with age, miles and bodging, simply using a torque wrench on the 54mm nut isn't the way to go. I've had tight nuts (ooer) that haven't actually nipped the bearing due to damaged threads and whatnot. Rotational torque whether measured or felt is the best way in my book. The electronic fishing scales were £5 from Hong Kong by the way.