Here's some random thoughts on the 1200 vs the 510.
Screen: 510 is bigger (~10" vs ~8")
Resolution: 510 is 800x600, 1200 is 640x480
Colors: 510 specs state 256. 1200 supports 4096. This is a big one for me.
Touch screen: 510 allows a passive pen (or your finger) - resistive. 1200 requires special pen - electromag
Processor: The 1200 has a Pentium 120, the 510 has an AMD 586, which is a glorified 486.
Onboard Memory: 1200 comes with 16MB, 510 with 8MB, both are expandable, 510 uses 72-pin SIMMS, 1200 uses 144-pin DIMMS
Weight: Similar weights, think the 1200 is a little heavier
Size: Similar sizes, 510 is about .2" thinner, and a little wider, but it fits a bigger screen in approximately the same space.
Ports onboard: Both have keyboard, IR, mike,headphone, serial. 510 also has mouse. 1200 also has printer and VGA. No USB support on the 510, not even with an expansion dock. A USB port is included on the 1200's dock and one can (and has been) hacked into the 1200 as detailed in other threads here.
If there's another Point model with a slightly more powerful pentium-class processor I'll go for it.
The price these things are going for on eBay are a little high for me at the moment.