I've owned five or six thinkpads over the years and in my opinion the only reason people feel the trackpoint is acceptable is because the trackpads on those machines are so awful. I used to prefer the trackpoint too, until I used a laptop with a trackpad that wasn't hot garbage.

For example the trackpoint on my T70 actually drifts backwards in the opposite direction after you let go, and this is typical for trackpoints in my experience. It's just not a very good pointing device.