Audiozen 2-27-2018They are both doing the same thing in that they are conveying, or at least attempting to convey, the same information from one component to the other. But they are doing it in very different ways, with results that are unlikely to be identical.
... just about all high end mono amps have both RCA and XLR inputs as well as dual mono stereo designs in a single chassis. So if a balanced dual mono/stereo preamplifier has both XLR and RCA outputs, and both outputs from XLR or RCA or moving signal from a separate mono channel for left and right, then in essence their both balanced cables doing the same thing.
A balanced interface by definition has two signal lines which have the same impedance between each of the signal lines and ground, at least to a **very** close approximation. That equality of the impedances between the two signal lines and ground is a necessary condition for a balanced interface to provide the noise rejection it is known for. It is also frequently the case that those signal lines carry a pair of signals that are of equal amplitude but opposite polarity, which can provide additional advantages such as improved signal-to-noise ratio, reduction of certain forms of distortion, and minimization or elimination of cable effects (if the criteria Ralph has described are met).
Components whose internal signal paths are balanced but which provide RCA connectors in addition to XLR connectors typically convert the unbalanced signal provided to the RCA connector or received from the RCA connector to or from a balanced pair of signals that is processed internally, with the conversion often being accomplished via either an active stage or a transformer. Or in some cases the RCA connector is simply connected to one of the two signals in the balanced signal pair, with the ground shell of the RCA connector being connected to circuit ground.
An interface which conveys a single signal and a ground connection is not balanced, both by definition and as a practical matter.
Regards,
-- Al