Stepping through code is great for seeing the nitty-gritty details and troubleshooting algorithms. It's like looking at a tree really up close and following each vein of bark and branch individually.
Profiling lets you see the big picture, and quickly identify trouble points -- like taking a step backwards and looking at the whole forest and noticing the tallest trees. By sorting your function calls by length of execution time, you can quickly identify the areas that are the trouble points.