Jethro,
Practically speaking I would note that balanced interconnection is of utility in situations without long distances involved--the emphasis now is often that external noise (RFI, etc) is much less of a problem (for most) than simple ground potential differences between adjacent components (ground loops, etc), which creates noise in an unbalanced connection. Bruce Hofer (Audio Precision), Whitlock, Benchmark Media, etc, all have published recently on this point and interconnection in general (and all suggest the 'pseudo-balanced' solution I mentioned above--or varients therof).
Regarding 'how balanced works' and the disagreement regarding signal symmetry being involved in noise rejection--
There are not "a few who disagree", nor is it a matter of opinion.
However, debating on forums does not usually have a happy result--and Caleb seems to have resolved his question.
I will quote from IEC standard on amplifiers (IEC 602689-3:2001):
"The purpose of a balanced interface is to transfer a desired signal as a differential voltage on two signal lines"
So far so good, then:
"Only the common-mode impedance balance of the driver, line, and receiver play a role in noise or interference rejection. This noise or interference rejection property is independent of the presence of a desired differential signal. Therefore, it can make no difference whether the desired differential signal exists entirely on one line, as a greater voltage on one line than the other, or as equal voltages on both of them. Symmetry of the desired signal has advantages, but they concern headroom and crosstalk, not noise or interference rejection"
Hope that helps!
Mark