The benefits of a fractionally spaced equalizer
The more samples you have per symbol the less timing error you have since delay in samples is converted to delay in time by dividing by the sampling rate. I beleive the far more dominant reason for a fractionally spaced equalizer is the aliasing you mention as can be seen in the frequency response of the equalizer. For example, 2 samples per symbol can capture all the phase and amplitude distortion represented over the channel bandwidth uniquely as depicted in the graphic below. (This is assuming the signal was sufficiently filtered prior to being decimated to the fractional rate used).