I know the answer to this one!!!
The steel isn't used for sharpening at all. It is to straighten the wire edge.
This is the explaination handed down from my great grandfather, a Cordon Bleu chef at the Four Seasons in NYC. He was, in turn, taught by his father and grandfather, a chef to King Louie in France (so the family legend goes.)
Kitchen knives are left with a slight wire edge (burr) after sharpening. Instead of stropping or buffing the edge, the wire edge is "steeled" to align it with the rest of the blade so the blade has a super keen razor edge. This will last long enough to prepare the food. It must be steeled again before use.
Unfortunatly, kitchen steels today are sold with striations or in a stone material to "sharpen" as you steel the edge. I don't feel this is necessary and may ruin a good edge.
With the modern steels and heat treating methods, I don't feel kitchen knives need to be steeled, unless you prefer to sharpen the old way. There is something theatrical to steeling a knife before carving the Christmas ham or turkey.
When I make my kitchen knifes, I put a slight convex edge on and give the edge a run on my buffer. One L6 chef's knife that I gave my father Father's Day 2004 is used daily and it is still cutting paper thin vegis and meat with no need to be sharpened or steeled yet.
I haven't measured the hardness of the L6 knife but it does pass the brass rod test.