It depends on many things. In my opinion its up to how your car turns off power. That depends on the setup and also track (surface, tracktion).
When I drove truggy (XT8) I always made it oversteer a bit and have a lot of turning onpower. We didn't have high grip tracks so it made sense! I braked to make the car slide and drift and went through corners like that. I did try to setup the car for brake-turn-accelerate but laptimes were worse. I couldn't make it turn enough offpower.
What makes a big difference in cornering style: brake balance, diff oils, brake amount, overall setup of the car, tires (for an example crimefighters have more sideways grip than bowties).
What I discovered the hard way - you can't be inbetween two driving styles - when you can't powerslide and offpower the car doesn't turn either. Its a nightmare.
On certain tracks you could be faster with a car that tends to drift a bit and oversteer. Mostly on low grip tracks.
Then again we had a track with alot of carpet on it. It had very good grip. On that track I won the race mostly because of the brakes and how my car handled under braking. I had perfect brake balance and brakes set to just right amount. I limited the weight transfer so rear didn't loose grip (on braking the rear lifts and sometimes you might spin because of that). It was 100% point-and-shoot aka brake-turn-accelerate. And on those turns with carpet there was no problem with understeering either, you had too much steering! Others didn't focuse on the braking and there the laptimes were made!
Overall I think the point-and-shoot style IS better. And it is easier to overtake driving like that also. Overtaking with a "drifting" car is a bit lottery ;) With point-and-shoot you just go inside "force" the other guy drive longer trajectory - just like with real cars. My problem with point-and-shoot is that I'm used to brake into corners a lot (brake and turn while still braking). But I just have to adjust my driving when needed.
So if you wanna try point-and-shoot then make big changes to the car. Try to find the grip and never try to slide the car. You can't go half way!
Sorry for my language but maybe I did manage to make my point ;)
BTW - drive with Virtual RC (
www.virtualrc.com ). Yes, its nitro onroad but you'll be surprised how much it helps for offroad also. In the end its up to the driver ;)