First, I am an accomplished competitive handgun shooter, who is best at speed events, such as bowling pins, etc. Pure BS!
If you want to shoot fast and accurate at normal 7-10 yard combat range, concentrate on the front sight, forget the rear one, and rely on a grip angle that fits your hand to put it instinctively on target. At 7 yards, I can keep all my shots on a target the size of an orange if I take a hammer and knock the sights off my handgun, in other words, don’t even look at them. I can do this two handed, by locking on the target, shooting at waist level. It doesn’t happen with the first box of ammo, though!
Certainly, with enough practice, shooting from the same position on level ground, at reasonably close ranges, point shooting from the waist can work.
Have you found that you can do this reliably at different angles from your body, or at different heights instead of on level ground?
IMHO, competitors that win matches, do not point shoot from the waist. They bring the gun to eye level, and even if they are not using the sights consciously, they are able to use the sights (or the profile of the firearm) to index the gun on the target subconsciously.
I have known some fine shooters who can hit very well without sights, but they are just using the profile of the gun as a substitute for sights. Shoot enough, and how the firearm has to be pointed to hit become part of your subconscious, and is done mostly automatically.
It is very difficult to transition point shooting from the waist to many situations, such as shooting from behind cover, because accurate fire then becomes dependent on body positioning, which is unreliable in dynamic self defense situations.
I am not saying that accurate point shooting from the waist is not possible; I have seen it done. It is a technique that is more limited in its application than is interposing the gun between the eye and the target.
Reminds me of getting my expert rifle while in the Navy, we were to shoot at 4 targets of varying size to simulate distance in 4 different positions. I swear i had an AR that was run over before i was issued it and could not sight it in at all, so I cheated, i took four shots from prone, sandbag assisted, at the smallest then worked my way up shooting at the bigger targets.