I should say that I'm specifically referring to the TrackPoint IV.
The TrackPoint II as used on the M13... it's not
bad per se, but the sensitivity is fairly low for modern screens IMO, and it lacks the negative inertia that the TrackPoint III added (which greatly improves precision in real use).
Basically, as far as I can tell, here's what each revision of TrackPoint added:
TrackPoint II: The original (because the first device called TrackPoint was a weird convertible mouse/trackball thing), behaved exactly like an ordinary 2-button PS/2 mouse as far as protocol goes AFAIK (although I think there was an undocumented protocol to get the raw force data, based on
this)
TrackPoint III: Added
negative inertia, still behaved exactly like a 2-button mouse (but again would have had the undocumented raw force data protocol)
TrackPoint IV: Added press-to-select (virtual Z axis for tapping the TrackPoint to click), and used a new protocol to add third button support and customizable parameters for force and negative inertia tweaking (the force tweaking exposed in the driver, the negative inertia tweaking never exposed). IBM/Lenovo can never decide how much of this to expose on a USB device, though - some of the keyboards appear to have everything exposed, and some look like generic three-button USB mice with no parameter tweaking whatsoever except IIRC for press-to-select (everything else being done at the OS level).