Point shooting means different things to different people. Many of its current proponents would argue that point shooting is not hip shooting. I will discuss some of the principles put forth by some of the proponents of point shooting in the event that you are contemplating incorporating this in your training regimen. Guns launch projectiles in relatively straight lines. In order for the bullet to hit its target, the muzzle has to be aligned with the target at the time that the bullet exits the bore.
Precision is a relative matter.
Generally the need for precision in this alignment increases as the distance to the target increases. A lot of gunfights with handguns actually occur at ranges of about two arm's lengths or less. At the very closest of ranges you could actually hold the muzzle against your assailant and put the bullet into him. It might not go into the most disabling part of his anatomy, but you could say that you aligned the bore to the target by touch. As the distance grows you can still get a fairly good alignment with a target which is not moving radically merely by body position.