I don't see 'although' and 'albeit' as being direct equivalents. Depending on context, I feel that there are subtle differences. 'Although' acknowledges that there is an alternative or condition; 'albeit' is more of a reluctant acceptance of the same.

Even if the two words are directly equivalent, why is one better than the other. I do not accept that 'albeit' is pompous. Reverse snobbery is no justification.

DC