Hey Mike,
The channel does a couple things. It obviously covers the cut edge of the soffit where a space is needed for expansion & contraction. Secondly, it controls the soffit panels and keeps them from flopping around in the wind. As long as those two issue are covered then do whatever works. When you nail the soffit make sure to follow manufacturer's directions. Always nail in the provided slot and do not drive the nail up tight.
hth, Doug
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