I was originally just responding to someone in the Boot Fitting Sticky, but it got a bit longer than a simple reply so I thought I would just make a thread out of it since this comes up from time to time...
Canting often gets confused with Cuff Alignment, so let's tackle them both. Yay.
Canting involves adjusting the foot and leg shaft angles of the entire boot. This is achieved by literally grinding an angle into the bottom of your boot sole so that your entire boot (not just the upper cuff) permanently leans inward or outward. The toe and heel lugs of the boot have to be then be machined back to DIN standard so they can fit back into your binding. Most lower shells come out of the factory at 90/0 degrees (not Canted)- if you look at the vertical seam at the heel of your boot, it will be perpendicular with the ground. Atomic's race boots, for example, are Canted 1 degree outwards right out of the box. When your boots are Canted and sole planed correctly, you have a boot that is mega responsive to the slightest input you give it. This is kinda overkill for most folks on here, but if you want to drop the $200-$300 to give it a try, it will turn your Pinto into a Ferrari when executed properly. (Be careful, this can cause serious damage to your boot and you if not executed properly).
What is more common is Cuff Alignment, which is unfortunately mislabeled on the cuff rivets of most ski boots as "Canting". Cuff Alignment specifically deals with the inward or outward angling of your upper cuff; it does not involve an adjustment to the lower shell. The purpose of this adjustment is to match the angle of the upper cuff to the curvature of your lower leg shaft for better comfort, greater control, and more responsive skiing. Sometimes, only the outside cuff rivet is adjustable, but you have greater alignment potential when both the inner and outer rivets can move. It is way less complicated than truly Canting your boot, but if you screw it up it still sucks so don't immediately bust out the hex wrench and go to town on your boots.
Both of these adjustments also presuppose that you have your footbed totally dialed in. If your footbed is not totally dialed, your ankle will be out of alignment and consequently so will your leg shaft, which defeats the purpose of doing either of these adjustments.
I'm also of the mindset (mostly) that if it ain't broke don't fix it, especially for skiers who aren't racing. This post was mainly to serve as info rather than advice, and hopefully it has cleared up some things for some of you.