Adam,
Just to be clear about this, are you asking about using steel sip panels instead of reinforced concrete for the basement walls? I am only aware of treated wood and reinforced concrete walls being backfilled. I wonder how the G90 galvanized steel would hold up over the years and how would the waterproofing be attached? I would really like to hear from anyone that has experience using anything other than treated wood or reinforced concrete for structural basement walls.