I think point sprites also have some limitation in OpenGL, something to do with the texture coordinates at the corners of the sprite having to be 0,0 through 1,1 and you can't modify it on a sprite-by-sprite basis, so you have to either have one sprite image for all point sprites, or do them in batches, or generally not be able to keep the texture from switching between image sets. It's not exactly efficient or flexible that way. I think I heard something also about not being able to rotate/scale them or something? Also in GL it requires extensions to be supported which may not be.
I think you'd be better off using normal quad images with large spritesheet textures, minimal texture swaps and vertex arrays of some kind.
I think you'd be better off using normal quad images with large spritesheet textures, minimal texture swaps and vertex arrays of some kind.