Yes, please, please, please.
As a long-time user of InDesign, step/repeat ist the one feature I really miss after moving to Publisher.
All references to existing transform or alignment options miss the point.
With step/repeat and the preview-option enabled you can quickly create 2-D arrays of text frames (or any object) and interactively see how any changes of offsets and horizontal/vertical repeat counters turn out on the page. Often, it's fractions of a mm for individual offsets that make the difference on how things fit at the bottom of the page.
It's a great tool for certain types of design, and doing labels without it is a royal pain. I regularly need to do small stickers for firmware versions and the like, which might have 100 Labels on a page. No, you don't really want to do this using individual transform commands to first build a row and then duplicate rows.
Please just steal it from InDesign instead of coming up with seemingly more elegant work-arounds. A simple dialog for entering the parameters is much more effective. (And those other tools you already have won't be spoilt.)