Steeling can align edge without removing metal, but it must be done properly and fairly frequently. A smooth steel is what I prefer. I detest the file like steels that come with most kitchen blocks today, though they will work in a pinch. If you can get rid of all the metal shavings and burrs left from making them. I've been EDC'ing my Spyderco Delica and using just a steel to maintain the edge, and it's worked now for a couple of weeks. My current smooth steel is the side of my Faberware chef's knife.
For steeling to work, there are a couple of requirements.
First, the blades cannot be too hard (more on that later, I've got some HSS knives to try before I make a decision on this). Verhoevens conclusions above make sense that more damage would be seen on harder steels, but it still may be possible to steel harder edges and postpone a full burr forming/metal removal sharpening. IMHO, this requirement mainly applies to Japanese style, low included angle, very hard edge knives.
Second, the knives must be used on material that is not capable of significantly abrading the knife edge. This applies to kitchen use, butcher knives, and hunting knives that don't encounter the fur, and some others I don't know about. In these uses, corrosion and edge rolling are the primary reasons for dulling.
Third, the steel must be used fairly frequently. There is no benefit when steeling to wait months at a time until the edge is actually worn off, or rolled to the point that steeling will just break it off.
Knives I tried steeling before my latest experiements were in this category. It's no wonder I decided steeling was not useful and essentially a waste of time. The frequency will be dictated by the use of the knife. Professional use may require daily steeling, or more. Home kitchen use may only be weekly. A good hunting knife may make it through one or two animals before needing it. I usually keep my kitchen knives arm shaving sharp. I found in my last round of tests that when they start to scrape instead of smoothly shave is the time to steel. Waiting longer will still see improvement, but doing it at this time will bring the edge back to almost as sharp as it started. I was able to steel the edge back to tree topping sharpness a couple of times, and the knife I tested still has not been to the Sharpmaker or stones.
I use decent (old) carbon steel knives in the kitchen. I steel after each use, 3-4 swipes. It takes a few seconds and my knives rarely need sharpening. They seem to need sharpening more frequently if I don't do this. Plus that "paper thin tomato" sharpness. My wife won't use my knives, they cut her.
My opinion at this point is this is the optimum way to use a steel. Those who use ceramic plates and glass cutting boards have a special place in knife re-education camp. Even these will roll the edge more than wear it, they are just much less forgiving and can roll the edge so much that it breaks off when steeling is attempted, or before.
Knife edges in the kitchen will encounter material that will corrode the edge off, and it may be frequent use of the steel removes this and prevents it from ruining the edge as quickly. For this reason, I prefer stainless kitchen knives.
On another note, frequent use of steels may be able to shorten the life of the knife. I'll have to think about this a bit and get back.