No one I know uses channel balance to adjust cartridge alignment.
"Channel balance" means the relative strength of one channel vs. the other. If that's what you meant, it's unclear to me that measuring channel balance would be useful for adjusting any cartridge setup parameter.
"Cartridge alignment" usually means the combination of a cartridge's position along the headshell slots ("Overhang") and its angle in the headshell slots when viewed from above ("Zenith Angle"). Neither of these parameters affects channel balance in any meaningful or useable way.
Gross changes in Antiskating can sometimes affect channel balance, but measuring channel balance would be an ineffective method for adjusting that IME.
Azimuth angle (the angle the stylus makes relative to vertical when viewed from the front) effects inter-channel crosstalk. Many people, including me, have measured that to adjust azimuth and it's an effective method. Azimuth may also effect channel balance, but using that measurement to adjust azimuth would be far less precise than measuring crosstalk.
The other major cartridge setup parameters, VTF and VTA/SRA have no effect on channel balance that I'm aware of.
Doug
