It may be a good enough starting point, assuming you aren't exceptionally large, diving doubles and/or otherwise notably outside an average weight of a fully geared up diver, though you'll want to do a proper weight check when you're actually in salt water for sure.
You (and everything else) are about 2.5% more buoyant on salt water vs fresh. Which means you need about 2.5% extra ballast (of your total weight - all gear, everything) to sink compared to fresh.
for example
body weight = 170
BC, tank, reg, and anything attached to your BC = 50 lbs (obviously if you're diving doulbes, you'd have much more weight here)
Everything else - fins, exposure protection, gloves, - obviously alot of room for variation here - but lets assume a thick wetsuit and round up = maybe 10 lbs
Weights already on a belt - 20 lbs maybe (for that thick wetsuit)
= 250 lb total weight on dry land. If perfectly neutral in fresh water, you'd need an extra 2.5% of ballast, 6.25 lb, for salt water
---------- Post added May 6th, 2014 at 12:06 PM ----------
for a point of reference, the above stats are pretty close to my own. I use about 6 lbs more in salt for otherwise identical gear with a 7mm wetsuit (with hood + gloves).