Most people don't understand how to use a rod, or even what it's actually used for. It is not used to sharpen/hone blades. It's used (going backwards on the edge) to straighten a rolled-over edge, which you'll get when using a kitchen knife (typically a fairly soft steel) on a cutting board, through bone, etc. Straightening a rolled edge will give the knife a longer lifetime than grinding away a new edge each time. I'm guessing you already know that, but just in case you didn't...
That said, as you said, modern pocket knife steel is typically harder, and especially with stainless steels, more prone to micro-chipping rather than rolling to make the edge dull. A rod won't help you with that. Unless you're talking about a Case sodbuster in carbon steel or a cheap knife in 420J or AUS-4 or something like that. Anything much harder than that, even if it is a rolled edge, and you're still more likely to break/chip that part off rather than bend it back in place.