Hi Les,
The point tool can be the most valuable tool in your “armoury”. It was first popularised by Bill Jones, though I guess used not only by him but also his dad and his contemporaries. In the days before the ready availability of tools for turning many were home made from, amongst other metal objects, old files. The point tool was originally made from a triangular file, not to be recommended these days. The cost of producing HS Steel triangular blanks was prohibitive and so the point tool for many years now has been made from round bar. This actually makes them even more easy to manipulate. I favour the 1/4” diameter size and very rarely use one any larger. I probably make more use of this tool than did Bill Jones, though without his skill. The three face angles can be varied according to the use to which you intend to put it.
It can be used in many ways for different uses and, contrary to some belief, can be very similar in action to a three sided user friendly skew chisel. It is ideal for executing crisp detail and very good for rolling small beads. Only when used consistently and with practice does its full potential become apparent.
To see how best to use it there is a section on my Screwples No1 DVD.