I think that the point billet refers to the fact that the first billet runs through the knee-roll area and attaches to a more forward area on the tree. THis is good to prevent the saddle from moving forward. My horse needs a point billet otherwise the saddle creeps forward. However, properly fitted point-billet saddle should make you feel even, not tipped forward.
The V-billet, I believe, refers to the second billet. Some saddles have a fixed V - meaning, it is sewn like that, and the idea is that the billet attaches to the middle and back of the tree and are sewn together in a V shape where the billet attaches. But most V-billets these days have an ‘adjustable’ V-billet. This is where the billets attache to the middle and end of the saddle and come together in a “V” shape, but the V is adjustable by a buckle-type thing. On other saddles, there is a “running buckle”, so the billets that attach to the tree freely run though the top of a ring and the billet attaches at the bottom. Here, the V-billet naturally adjusts to the horse because it is free-running. The nice part of the v-billet system is that it can stabilize the back of the saddle.
I like the v-billet system. My horse’s greatest nightmare is the billeting system that comes with some of the Passier saddles. They have 2 billets that drop directly from the middle of the tree. On my horse, this saddle would creep forward and the back would come up and move around. Of course, this is on MY HORSE. On other horses I ride, this system is perfect for them. SO it really depends on your horse and his build.
Good luck! Saddle fitting is a nightmare!!!