Celebrim said:"I've always allowed 70-point buy for my players. I haven't had a problem with it yet."
Well, as long as you understand that you have increased the ECL of the party by one or two so that the challenges will be more in line...
More like ECL +2 to +4 actually. I played around with the online ECL calculators one day to see what ECL +1 is equivalent to in terms of point-buy, and came up with 10-20 points.
25 points ~ +0 ECL
40 points ~ +1 ECL
55 points ~ +2 ECL
70 points ~ +3 ECL
If you don't adjust their effective level, there's a couple of things that might happen:
1) The PC's just waltz through every encounter, especially at low levels. This will make them level up much faster than designed (and how often have we heard people complain that 3e levels up too fast at low levels?...)
2) "My players need the stat boost because of what I throw at them" Ah, so acknowledge you crank up the CR level of their encounters? (Perhaps only by making optimal use of environment, surprise, and by playing the opposition much more intelligently than most DMs would... that still makes for a higher CR encounter!) Then... if you crank up the PCs and you crank up the encounters, why not just use the standard mechanics to deal with that? I.e. let them start at level 4, with a +3 ECL race, or with 70 point buy, and use the standard CR rules to design encounters for that power level!