actually, I think it helped very little. Perhaps a little refresher on just what "balanced" means would be in order? Great:
A "balanced line" is merely a transmission configuration that consists of two signal-carrying lines, and a shield. The shield carries NO INFORMATION. The two "hot" signal carrying lines exhibit the exact same impedance referenced to shield. Typically, the shield is connected at both ends to earth, but might only be connected at one end.
At the input of a balanced line, a differential amplifier amplifies the DIFFERENCE between the two lines. Since noise such as RFI and hum typically manifests the same on both lines (because the impedance WRT ground is exactly the same), then the "common mode" signal...the signal that is the same on both lines, is rejected.
A balanced line makes no distinction whether the signal is passing on one line, or the other, or both...as long as there is a differential, then it works.
A "true balanced" line typically has a signal on one line, and the inverse signal on the other line. When passed through a differential amplifier, the resulting signal is 3db higher than what one leg or the other are separately.
A "psuedo-balanced or electronically" balanced line typically has signal on only one side, and both sides are tied to ground through resistors, so both sides "see" the same impedance to ground, so the common-mode rejection works.
There is no requirement about signal level. it can be mic level, line level, speaker level, whatever.
Again, the main benefit to balanced line, is that it allows for COMMON-MODE rejection of noise that may be induced on the connecting line.