What's wrong with using the recommended die rolling technique to create characters? It's always been a viable option, rolling characters randomly is part of the game. I tried point buy once and got a bunch of copied, homogenized characters that were really quite bland. I also got a ton of fighters that way. But I also happen to be one of those people that reminded the players that I wasn't going to go easy on them because they created a bunch of fighters and had no cleric either. The game can be fun regardless of the manner in which you create the characters. It's up to the DM to create the challenges but the players inject the life into the character, regardless of stats. My group didn't even worry about balance until we started playing 3E and brought some new blood into the group.
And the games I run are quite fair. The players are rarely forced into any situation, they usually have viable alternatives and are always well prepared to launch their endeavors. I don't like to have time spent creating breathing, living characters only to arbitrarily destroy them. But, I do not like point buy either. That's just me. To each their own.