No, sadly, I have not figured it out. I also apparently can't figure out how to make a decent screencast (like so many others here, if anyone has tips), so let me try to explain:
In creating an initial trivial demo document, something seems to have gotten lost in the 'problem statement'. Let me see if I can clarify the situation: Consider the new attached doc: BeforeState-v2.f3d. What you're seeing here is a nut, imported as a component from McMaster-Carr, and an extruded channel (another component), created from a sketch. At the end, I would like this nut to sit in the channel cut into the extrusion.
Mentally speaking, in the smallest steps I can imagine, I would like to:
* Re-orient the nut such that the faces of the nut is parallel with the face of the extrusion. This is fairly straightforward with the Align function. I start the Align operation, select one of the faces of the nut as the "From", and one of the faces of the extrusion as the "To", inevitably picking the wrong face of the nut the first time and having to do it over, and align them. OK, so far. OK, now the nut is oriented correctly with respect to the extrusion.
* Orient the nut such that the bottom face of the nut is co-planar with the bottom of the channel in the extrusion (in the end I want it 0.1mm away from co-planar, but that's just a standard Move op). This is simply a slightly modified redo of the first step, but with different faces for alignment.
* The nut should be centered along the long dimension of the extrusion -- the center of the nut should be aligned with the center of the channel cut in the extrusion. I have not found any way to do this with the align command (other than with a free move; an approximate operation)
* The nut should be fully contained within the channel in the extrusion. I realize this will ultimately be best captured with a Joint, but for now, in the beginning design phase, I want to move the component, and it FEELS like this should be possible. I want the center of the nut's hole to be aligned with the center of the cut channel, along the short dimension. I have not found any way to do this with the align command (other than with a free move; an approximate operation).
Everything I've tried so far, with the Align command, either doesn't work at all, or yields results quite different than what I expect. Constraints don't seem to solve this problem well, and I feel like I must really just be missing a modifier key or something because aligning objects like this feels like it should be absolutely a simple, common operation and yet I'm having no end of trouble trying to figure out how to do this.
If someone wants to tell me what everyone's using to make the style of screencasts that people often post, I'd be happy to document my many flailings, but Autodesk's screencast tool appears to be gone/EOL, so I'm not sure of the best way to do that. I'm on macOS if it makes any difference.
-Ian