This may be the "belt and suspenders" approach, but...
First, even though my family business put the ENR formula in its literature for many years, I'm inclined to agree with Panars that the Gates formula is more accurate. That being said, my preferred use for this or any other dynamic formula is to make an initial hammer selection to then be refined by the wave equation analysis.
Once you've done that, you should run some kind of static analysis to get an idea of the resistance of the pile. That information (taking into consideration set up, plugging and other phenomena) can then be entered into a wave equation analysis. More than the estimated static resistance of the pile should be entered to develop a "bearing graph" or range of blow counts and resistances, which becomes the "equation" you're looking for if you don't use a PDA.
The PDA, when operated and interpreted by knowledgeable personnel, is obviously the next step up, if the economics of the job call for it. For very large projects a static load and/or Statnamic test can be added.
As far as expense is concerned, if you can use the DOS wave equation program WEAP87, it and the documentation that goes with it can be found at
That page also links to my collection of driven pile books for download, including the 1997 FHWA manual on the subject.