You can do it in stainless steel, but with nonstick available, it's not worth the extra effort.
You have to use a new pan, with a high polish, no scratches. Season it, and care for it carefully. http://www.cheftalk.com/t/12287/seasoning-of-stainless-steel-fry-pan#post_249933
Also works with heavy aluminum pans. There's an episode of the French Chef where Julia is using two monstrously thick high polish aluminum pans from France designed just for omelets before non-stick came along. She shows it in this video, but doesn't use it this time.
They show a few of these styles of pans in this video.
There are also cast iron and heavy carbon steel omelet pans that work well because of their good seasoning and patination. Knowing your pan and its seasoning is critical for this. I can do it one of my10" cast iron pans, but not one of my other 10" cast iron. Nor in my 10" carbon steel pan, yet, but it's still fairly new.
But even still, a non-stick pan is much more forgiving of technique and needs much less butter.