Hi,
I tend to agree with most of the sentiments already exressed, but I'd just like to add that the Point & Power technique is no worse than the typical GA technique (power for RoD/flightpath, attitude for IAS) if you are exceptionally high or low as you roll out on finals.
Either way something has been selected in error along the base leg (either the wrong power setting, the wrong attitude or the pilot didn't correct for a x-wind). The recovery is fairly straight forward - adjust the pitch attitude / power to regain the correct approach angle and then reselect the correct power and attitude required to maintain it.
This is easy in a light aircraft, but as the aircraft gets bigger and faster the pilot needs to be more accurate flying the base leg as the tolerances for an acceptable approach angle are more precise. You would kinda hope that anyone flying something bigger than a Be58/C310 would be able to fly an accurate base though......
I personally teach to stop concentrating on the IAS as the nose/cowling passes the flare cut-off point (a short distance in front of the aiming point), at which time the throttle is closed and the pitch attitude is gradually raised to the landing attitude. Until then the scan that BEagle described works very well. After the flare cut-off point you really should have your head out of the cockpit!
