I was speaking about this yesterday and the general feeling that we agreed on is that if the speed was getting near to or at least 100 knots then 'point and power' would be suitable since if you pitch up to decay the speed then you will be high on the glide - Try flying an ILS at 120 knots in a Warrior or even better fly an ILS in a twin at standard approach speed. I heard a story of a chap who was flying a Cessna 310 and about to enter a hold and he was 40 knots fast so he pitched up in a vain attempt to reduce speed and he gained 400-500 feet … thankfully there was no one above him! However if you flew a Cessna 152 on an ILS at 55 knots then pitching up or down to control speed will not have a significant effect on glideslope deviation therefore elevator can be used to control speed and power can control ROD.
Would be interested to hear what everyone else thinks.