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Iterations provide great feedback to the estimators, so they get better. As far as single point estimates, keep in mind that Planning Poker is mostly associated with agile, where single point estimates would be ok. This is especially true when it is used for iteration (Sprint) planning. They are using...
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Planning Poker is an interesting approach to a Delphi-type estimation process. As Earl points out the strength of the Delphi-type processes is that you get multiple independent inputs (and get them talking to each other) in a relatively short period of time. The big drawback that I see to PlanningPoker...
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