This is a very interesting question. Earlier this year I had a three week space between running a marathon and going on holiday, and I decided to use it as an opportunity to shed a few pounds. Downloaded an app for my phone and logged every calorie eaten and every calorie burned, allowing myself a net calorie consumption of 1,200. If I wanted to eat more, I had to exercise more.
On the upside, I lost the (relatively modest) amount of weight I wanted to. Also, by actually checking the calorie values of foods I normally eat, I learned a surprising amount. Things I thought were relatively low in calories weren't, and vice versa.
On the downside, I nearly went nuts. I spent all day obsessing about food, and whether I could have an extra Jaffa cake if I got off the train a stop early. I can absolutely understand how eating disorders start, by using calorie counting as a means of control. But it's very boring and time consuming! So I deleted the app at the end of the experiment and went back to eating 'normally'.
I did learn some things, mostly about portion size, and that you can eat pretty much as many vegetables as you want, but in my view calorie counting is no way to live, long term.