This question represents a long-standing, often bitter, area of controversy in the firearms and tactical training community.
In Hitting in Combat, Dustin Salomon performs the most definitive analysis of the subject conducted to date. He examines the origins of point shooting training methodology, explores how different methods of training impact real-world performance, and explains how, ultimately, both sides of this argument are right, as well as the implications this has for instructor liability and the future of tactical firearms training. The book also contains a thorough examination of common talking points on both sides of the issue, along with a series of recommendations for maximizing the effectiveness of firearms training that is intended to prepare students for armed combat. Everyone who cares about winning gunfights should read Hitting in Combat.