The Aiken tech pages have a good article on this; read that. There's nothing wrong with PCB, when it's done right, just like there's nothing wrong with true PTP, when it's done right, or turret board, or eyelet board. The type of construction per se has nothing to say about the quality. The execution is everything.
Here is a true point-to-point radio from 1957; it was the top-of-the-line Nordmende then. Note that every solder joint, component, and wire is original, as it came out of the factory in 1957:
http://www.stevenhusting.com/Radio/guts4.jpg
When I got this radio, I figured I would be replacing the caps, and so on, until I actually looked at it. Then I decided to leave it alone.
steven