I would just like to add that Step.js library helps you handle exceptions by always passing it to the next step function. Therefore you can have as a last step a function that check for any errors in any of the previous steps. This approach can greatly simplify your error handling.
Below is a quote from the github page:
any exceptions thrown are caught and passed as the first argument to the next function. As long as you don't nest callback functions inline your main functions this prevents there from ever being any uncaught exceptions. This is very important for long running node.JS servers since a single uncaught exception can bring the whole server down.
Furthermore, you can use Step to control execution of scripts to have a clean up section as the last step. For example if you want to write a build script in Node and report how long it took to write, the last step can do that (rather than trying to dig out the last callback).