Cliff Stamp made an interesting post somewhere on these forums, where he noted that excessive steeling could cause work hardening of the steel, and subsequent micro-chipping of the blade.
This might be relevant to those who eschew filing or sharpening in favor of steeling. You may not be saving as much steel as you think.
For a deep ding I would certainly be tempted to bend it back as pappy did, rather than filing a large amount of metal off. Be aware that the bent part may be more prone to breaking out in the future.
I use the chakma when in the field and it's needed, use ceramic stones at home to both align and sharpen, and will bring out the diamond hones or the file when needed to remove metal. I would guess that a balance between steeling and sharpening gives good edge life without excessive work hardening.
Probably a good research project for a grad student in materials science. Lot's of time and effort to find out the answer, but I'm not sure it matters much for practical purposes. It will take a long time to sharpen all the way through to the spine of a khukuri. Longer than I will be around. Even if I did manage the feat I have a number of khukuris so I would just get to begin again on another.