Thats what I use. It does all the same things that silverfast does.
Silverfast is dedicated scanner software and PS is editing software. Two very different beasts. Silverfast is actually very good software and the latest version supports ICE which is very cool. The supplied Epson software is like Canon's: mediocre, at least with the 4870 which is what I own. I would upgrade to the full version. Beware it does have a rather steep learning curve but it's worth it. Check at i-photo.co.uk Vincent 's great review.