I never really had much of a banding problem (lucky i guess) and what little I did have seems to have been resolved with a stabilizer on the front of the bed keeping it centered & stable, not wiggling around - this was done long before the Z step change. My layers do seem to be sticking together better, and it is a bit closer dimensionally than it was at the stock setting - maybe it is my imagination (a "believe in something" kind of thing) but it seems to work for me...
Before the change I was getting occasional layer cracking with ABS, after changing I haven't noticed any cracking - but that could just as easily be the items that are being printed, too...
I do most of my printing at the '0.3' layer height (0.2963 actual setting) so that may make a difference as well.
I made the change in Z steps mostly as an experiment - had seen it posted about somewhere (and several of the online calculators come up with the same number for the stock SD setup), and figured I would give it a try.
Might have to do a little experimenting with these settings... slice an object at the stock settings and again at the modified settings and see if there are any differences in the number of layers produced...
SD4 #1 & #2 - Lawsy carriages, E3D v6, Rumba controller board, mirror bed plate, X motor fan, upgraded PSU & Mica bed heater
SD4 #3 - in the works ~ Folgertech FT-5, rev 1
Printit Industries Beta Tester - Horizon H1