I got good results (7th in the league, QF of the UEFA Cup in Season 1) by playing a standard 442.
Using Emre properly is vital: I set him up as a playmaker, and have Parker beside him to cover the defence and mop up any loose balls if he hits the odd wayward pass
Use Sibierski up front as a target man and play balls in to his head, he can score from a huge amount of headers this way, and his knock downs can get picked up by Martins.
I also used a Quick tempo and Direct passing for almost the whole season, this suits the starting Newcastle squad a lot better than a slow buildup. They also have a fairly pacy defence (Babayaro, Taylor, Bramble, Ramage) so you can set a high defensive line and counter attack to hit teams on the break.