If I may... (and you really can't stop me, anyway)
There are two, and possibly three different levels of 'point shooting'.
One is the hip shooting sort of thing. Gun is barely out of the holster, still near the waistline. This is sometimes called the 'retention' position, as the adversay cannot grab your gun very well. The downside is that accuracy is very short ranged, muzzle blast can impinge on your body (clothing) and face, and you can set yourself on fire. Supposedly, this is fastest way to get a shot off, but I have my doubts. I always see the shooter 'searching' with his pistol for an aiming point.
Two is 'point shoulder' - arms outstretched, both hands on gun, sort of looking over the sights and down the plane of the barrel or slide. This gets the muzzle blast and flame away from your body, gives much more directional control over the shots fired, and gives a greater feeling of security in the shooting. Downside is the gun is out to be grabbed, if the adversary is that close, and since the gun is at eye level anyway, why not aim and be sure of a hit?
The maybe third technique is the 'halfway' position. This is one-handed, with arm extended somewhat, but not up to eye level. This is the FBI crouch or "Gunsmoke" technique. Range is limited, but time to first shot is not much less than with an aimed shot.
In no event is there ever any need to fire more than two shots 'pointed'. By the time one gets to the third shot, enough time has elapsed to bring the gun to eye level and get a sight picture. Presuming one has sufficient light to obtain the sights.
Point shooting really comes into its own in semi-darkness. However, the best position for this is the 'point-shoulder' version I listed above as 'Two'. I've found in testing new shooters that once they learn to fire two handed aimed fire, removing the sights still allows a fair amount of accuracy from 'muscle memory'.
And yes, it is fun to blaze away in this manner.