Thanks for all the posts. FWIW, here's my opinion.
After reaching cruise altitude, set symmetrical “Cruise Power” on all engines. Disconnect the autopilot and trim the aircraft for the existing conditions. If this is not done, it may take more power than necessary to hold cruise Mach.
The autopilot will only trim the stabilizer when a certain force is held on the elevator for a preset period of time. If this force value is not met, the autopilot will hold elevator pressure to maintain altitude. This out of trim condition, with its’ increased power requirement, might give the impression that the aircraft is not “on the step”. If allowed to accelerate to a speed faster than LRC, at some point where the preset force value is reached, the aircraft will now re trim and the thrust required will be less. This phenomenon may be the condition that perpetuates the myth of being “on the step”.
If you level off with autopilot and your autopilot trim system works this way,(and most do), it's pretty easy to think there's a "step".