Bigwheel, Nope. Sooner or later you're gonna have to sharpen your knives, using some kind of an abrasive. The knife's edge is basically two bevels that meet, and whre they meet is razor sharp and very thin. Imagine a piece of paper standing on edge, that's the edge of your sharp knife under a microscope. Use your knife for a while and you'll have to keep it tuned with the steel, why? Because the very thin edge has curled over, soft metal more than hard, and aggresive chopping or hard cutting boards will accelerate this too. The steel, with it's grooves, straightens out the edge from it's curled state to straight edge again, and you're in business. But after steeling your knife you should wipe it clean on a piece of paper towel, or else you'll get black crud on what ever you cut.
That black crud you wipe off your knife every time you steel it, is minute bits of metal filings, small pieces of the edge that have fatigued and broken off. So yes you can steel the edge many times, but after a while (for me about every 3 mths) the edge is just plain dull. Under a microscope it would look kind of rounded over, with no distinct bevels, and the steel can't straighten out the curled edge, because there isn't any edge. When this happens you have to use an abrasive method to get two new bevels and a new edge. I do this as LITTLE AND INFREQUENT as possible, because it is abrasive and your knives will shrink every time it's done. Then again a dull knife is about as usefull as a gun without bullets...