I don't know why everyone is tripping over this steel thing. It is not like anyone is suggesting it as your main way to get steal. The thread is titled Tinkers Construct good STARTING tools. It is not going to kill anyone to get a little but of costly steal to have a good starting tool that can mine everything basically. Just a little iron and coal and you got a pick that works on every ore you will run into. Yes there are many better ways and I am not suggesting to grind up to fortune 3 on a hammer. The hammer is not a STARTING tool. But if you want a good STARTING tool a steel pick is a fairly good one and since you will be using it for a lot of things while you get started tossing some lapis when you find some is not a bad idea as it will level up while you just do your normal digging and the such.
There a re a few things I'd like to disagree with you here on. First, if you're able to cast steel into tools you should already have a tool forge. Outside of gravel aluminum is relatively difficult to run into so you should have plenty of other metals unless you've gotten lucky, and you need to be able to cast metals (or use 3 iron ingots) if you opt to use gold instead of aluminum brass. Either way, this puts steel on about the same level as getting a hammer even with the easy steel recipe.
Now that said my post was more about how lapis on a tool is kind of mediocre once you break it down. Yes, getting the fortune and looting can help a lot, especially the looting, but unless you're using a large amount of lapis it just takes entirely too long early game for you to build up enough luck to get fortune3/looting3. I'm talking hours of real time with a steel hammer, much less a pick. Now sure, most of the ores you want you'll want to fortune, outside of redstone or lapis since pulverizer yield is higher. Certus quartz and nether quartz, for example, are really awesome to fortune, but you will also fill your bags quicker. Also, fortune in the nether with nether ores isn't as useful imo as silk touch since silk touch will prevent the ores from going boom.
Basically, I agree with you on getting the Steel Pick, I just suggest shooting for silky instead and using it to take out the blocks for storage until a later time where you can either fortune it with a pick later (either via TiC or enchanting) or fortuning it with an MFR block crusher.
And yes, I did actually get a hammer to looting/fortune 3 and it really did take a few hours of mining to get high enough luck on it. That's why on my next world I plan on focusing for silk touch like I did before, but also opting for weapons with looting on it since they, at least the scythe, get luck from killing mobs.