I would not rely on an analysis report not showing AES wear metals. This is particularly true for monitoring engines, gearboxes, hydraulics. Also, giving an accurate diagnosis without an idea of water contamination (by Karl Fischer or FTIR) on any kind of machinery is very difficult. When monitoring turbines and hydraulics, TAN analysis is essential to give an estimation of lube remaining useful life.
I consider ferrography the most powerful tool in lube oil diagnostics, but I can hardly think at it as a routine test. There are many other tests (AES, particle count, RFS, Lasernet Fines), which can tell you when it's worth performing a ferrography.
IMO, viscosity measurement is an essential diagnostic test only in the case of engines or other machines that may suffer from volatiles or heat contamination. In many systems (e.g. turbines) viscosity change is a tardive signal of oil degradation. When viscosity changes, often many other parameters (TAN, IR oxi) have already passed critical limits.
Good luck