Point to Point circuits are used to connect two locations together. This could be for voice or data. Even with the new technologies around, there is still a benefit for point to point.
Here is an example – at my company we have a central location with 2 remote locations about a mile away, in different directions. We use point to point lease lines to connect the 2 remote locations to the central site. Over those lines, we run VoIP so that everyone can be on the same phone system and do 3 or 4 digit dialing. Plus, we just have a single Internet line at the central site and the 2 remote sites ride the P2P circuits to get to the central site to access the Internet. It all works very well and because these lines are short distance (p2p is usually charged by distance), the circuit are just a few hundred dollars per month.
I hope that helps