I am good at start-of-game optimization, but less so at in-game improvements. It depends on a lot of things. Some characters plan on branching out after char-gen, while others might be more focused. If you want your character to become more powerful over time, then at character creation, after becoming good at your main specialty, you would want to cover other areas at a decent level, so you will be improving yourself later on, rather than filling in missing skills or raising dump stats.
Point build typically comes in under Priority/Sum-to-Ten, but it has two advantages, optimization-wise. One, you are buying exactly what you want, so every point goes towards your character creation goals - nothing superfluous. Two, there is no differentiation between your overall Karma points and the normal 25(50) that you get with . You can do things that you flat out cannot do in Priority/Sum-to-Ten. For example, a pixie mysad build I roughed out, which had a mentor spirit, focused concentration: 5, 6 adept power points, and a bound Force: 4 combat spell focus. In Priority/Sum-to-Ten, that would have been 15 Karma to be a pixie, 25 Karma for the qualities, 30 Karma for the adept power points, and 8 Karma to bind the focus. 78 Karma - not happening. So overall it is weaker, but fine-tuning and flexibility can offset that sometimes.