I've had a lot of fun with both WFRP v1 and v2, having run a campaign v1 and played both v1 and v2. I found them both more flexible and enjoyable than their competition (like D&D).
It also allows PCs to munchkin up too easily or to have spent their points wrong and regret it, but are just as stuck as if they rolled poorly. But Im not against a point buy system if it is properly balanced and what not.
While these are a possibility (as with all point buy methods), it also provides much more potential for diversity since they can choose a variety of options for their starting characters. In v2, starting characters have very few means to differentiate themselves from each other; A few stat points from random rolling, a single random talent, and their one choice for a free advance. In v3, they can buy stat increases, buy their starting wealth, number of skills and talents, and also selecting the specific skills and talents. Unless they collaborate or both 'munchkin' the same, two starting Trollslayers could very easily have vastly different skills and talents and play very differently. I never minded the random stat rolling in v2, but I think the creation system in v3 is superior for the above reasons. It gives the player more control in developing the character to the player's idea, rather than rolling up a character and then forcing the player to make a character concept out of what he rolled.
Remember character generation, in general, creates characters at the beginning of thier careers and lives. This is Jams Bond while he is a freshman in college or Conan while still a slave. After a few adventures (or some extra starting XP) they develope into Pit Fighters and Junior Agents and after a few years adventuring/getting experience become Super Agents and Barbarian Lords.
In some sense this is true, but others it isn't. It's more about the generation making a character at the start of their adventuring life, or basically at the start of their story. Take the example of the diary character generation of the dwarf dockworker. He is created as an older dwarf. Certainly it is not the beginning of his life, nor the beginning of his career as a dockworker. The stat gains and skills purchased represent things gained (as explained by the author) through his time working as a dockworker. Yes, some characters could be young James Bonds, with little experience and relying on natural abilities. Others can be older, wiser, characters who might not be naturally exceptional, but have accumulated an amount of skills and strengths over time. These older characters never had the impetous to advance themselves until now late in life events catch up to them forcing them to adapt and grow. Imagine a middle-aged farmer, spending years farming his plot of land and raising a family. He learns how to be a farmer, grows some good strength to till the soil, but has no need to learn other skills. Suddenly, war breaks out and he is conscripted (start of his story/adventuring career). Now, his world is turned upside down and he must learn to survive in this new environment. He learns how to march, how to fight, perhaps learning herblore, cooking, or tailoring (mending uniforms), etc with the army. Circumstances have swept the farmer out of his old life and into the new. He is not young to life, nor new to his career at farming. He is new, however, to the life that has been newly thrust upon him. Whew, a slightly longer winded discussion than intended, but my point is that v3 allows this type of character background to be played at start, whereas the v2 version is actually more rigid and cookie-cutter for starting characters. in v2 you could say you were new to your career, or old to your career, but there was no functional difference in starting skill levels other than random stats values. v3, though, allows a player to buy and choose skills and talents if he wants a more "experienced" PC to start ... or choose to buy mostly stat increases if he wants a newer, less skilled PC. While still keeping PCs relatively balanced. Just as one example.
IMHO it seems like v3 has the advantage.
, offer also a well thought possibility for randomly determining heroes' stats. I loved it having strange combinations of Careers and stats in WFRP2... otherwise, this will be something I'll try to houserule.
on that note, i play with NEW roleplayers and they have a hard time with it. So if your guys/girls are very good at roleplay then maybe this wont help you, but keep inmind that 2E is no longer going to get advances and lets face it WFRP is the best system out there, no matter what version you play