The main reason to balance a signal path is to avoid RF interference (mains hum etc) and to allow unadulterated audio to be passed over long distances. A balanced systems do not suffer signal:noise ratio penalties over distance as unbalanced systems do, so are more useful on long runs.
If you don;t need to run your signals over distance, and you can control the RF problems, balanced systems aren't really useful. However, any kind of patchbaying needs to be balanced, as this becomes RF problematic and can cause earthing problems.
Not all balancing transformers actually use transformers, you need them if you are running very long cables in the form of line-drivers, but most studios don't use them.
It's just about noise and signal strength.