I find it (on my 8 year old t410s) far more precise than any trackpad I've used, and more precise than the old ball-mouse and trackballs. I guess it's what you know.

I actually just used the touchpad on said laptop with my thumb, to move the arrow to the 'reply' button (I have an inbuilt distrust of tab on websites). And now I used the trackpoint to resize the text box to read my reply, again without thinking about it.

I suspect that when I'm in "doing" mode I use the trackpoint, when I'm in "consuming" mode I use the pad.