Generally yes - my favourite approach is the use entries, even for static content - and in so doing, that opens up some options for you in approaching multilingual. There are add-ons specifically for multilingual to make some of the setup easier. Transcribe, for example, does some pretty heavy lifting for you, while the Multi-Language Module is a lighter option, bridging the gap between some of the native/manual language setup you can do. And Low Variables is another truly excellent add-on for quickly and easily creating and managing the pseudo-static elements of your templates that need to be language specific.
There are many ways to handle a multilingual setup in EE and your choice in some ways comes down to how you prefer to work. Myself, I’ve tried to approach it with how i know my client will best understand how to effectively manage content. So I’m a fan of avoiding dual-language field setups, which the wiki article talks about, and instead creating a single entry screen with a language selection that is then used as a search parameter in the entries loop, fed dynamically from a global variable for the user language based on either the domain or subdomain or a language segment (domain.com/en for example). It’s more scalable this way to future language additions for a variety of reasons and it means I don’t have to compromise my require field settings in the control panel.
Hope that helps.