With a medium BAB and a touch attack, I'm personally willing to skip precise shot on my warlock, as feats are at a premium in the build. Still need point blank shot, though... it's also a prerequisite for psionic shot.
I figure if I'm only going to get one attack per round, I might as well use some of those move actions to add 2d6 (eventually 4d6) to my next eldritch blast. Which plan, of course, also requires the Psionic Meditation feat.