I know the Point Buy system well because I use it constantly. It yields the same values (point wise) as the Standard Array; the difference is you can tweak the numbers, but if you choose to have two scores of 15, then you're going to have another stat that suffers significantly, for example.
Yeah, right - me too - from 1983, Old School all the way. Except that it's not at all practical for anyone outside of old-school/hard core gamers/role players, of which I am none.
This is the equivalent of saying, "I love the idea of cleaning the enter house every day, full stop. Keep it clean, period. Nowadays I make the small concession to clean it once a week." because it's practical.
I do, however, think it would be fun if everyone in the party was doing it. But, based on "rolls" I've seen in forums, few, or nobody is frigging doing that, despite what the rules say. I know I'm a sh!tty roller (hence my preference for the array/point buy) and others have fantastic rolls, but the folks I see in PbP games should really just hang out in vegas and be wealthy because their rolls are - consistently - unreal. But, ya, if everyone was doing it - it would be fun.