Steve, who was at the derby match on Sunday (supporting Sunderland we hear), believes his old Leeds mates are onto a winner at the Toon.
Caldwell spent half a season on loan at Leeds United, where he shared a dressing-room with the United trio of Mark Viduka, Alan Smith and James Milner.
Caldwell: "Mark Viduka's a fantastic player. He seems to be over his injuries this season.
"He's got a lot of quality, and is probably one of the best hold-up players in the Premier League.
"Having Obafemi Martins and Michael Owen playing off him is working just now, and I'm sure nobody wants to play Newcastle at this stage.
"Michael Owen is a world-class striker, and he does the important things.
"The first goal was a fantastic header from a great ball, and he slotted the penalty away.
"I'm sure if he'd had any more chances, he would have buried them.
"It's so difficult to keep somebody like that quiet for 90 minutes.
"Newcastle are playing with a lot of confidence, and winning games.
"You always felt when they got that first win, a few more would follow.
"They've got Damien Duff and Alan Smith on the bench.
"They are top-class international players, and will be desperate to get into the side.
"And I'm sure they'll sign one or two more players in the summer."