I'll 2nd the above^, regarding use on softer stainless. With a really, really light touch and minimal passes, they can add or restore a lot of bite. If pressure's too heavy, or too many passes taken, it just 'roughs up' an edge and can leave some huge burrs. As mentioned, I wouldn't take one anywhere near blade steel of higher hardness.
I have a couple/three little 'Sheffield'-stamped honing steels included with some Victorinox SAKs I bought some years ago. The honing steels are only 2-1/2" in length (excluding the handle), and the ridges are stout on them. Even in that very short honing length, it only takes 1-3 passes at just the blade's weight to tune up a blade such as found in Victorinox's knives. As with sharpening these blades on diamond hones, they can respond to a featherlight touch with very toothy & sharp edges, as the softish steel seems to take well to such a finish (also does well at more refined finish; that's a credit to Vic's steel quality).
The grooved steels may or may not be useful, depending on what knives they're bundled with, and the expectations of the user. Most 'ordinary' people (read: non-knife nuts) likely won't mind, as long as they get the quick-cutting results they expect of a typical kitchen knife, when using such a tool. Otherwise, it may just be an exercise in frustration.
David