Some observations:
Applegate had the impossible job of training thousands of men to become OSS operatives.
At the beginning of WWII, the OSS was the flavor of the day SEALS, minus the water.
Their job was to go behind the lines and kill people.
My guess is that Applegate taught his students to raise the pistol to the eye level even though he taught point shooting with the conventional grip without any reference to the sights because he had to teach these men in a very short period of time and get them in the field.
You have to remember that at that time, we were losing the war. England was not down, but they were against the ropes.
So if it takes twice or more as long to learn to shoot from the hip, the quicker way had to be used.
Also remember that when those men went out on a mission, they knew what they were getting into and were alert. Vry different from a person waking from a deep sleep to find a BG in his house or maybe even already in his room.
On the other hand, two of the greatest lawmen with a hand gun were Jelley Bryce and Bill Jordan.
Both of them shot instinctively, point shooting if you must, and shot as soon as their forearm was level.
This link shows the both of them in firing position, side by side.
Point Shooting - Colonel Rex Applegate - Sykes - Fairbairn - bobtuley.com Real World Gunfights Happen At Close Range
Both of them could drop a quarter and draw with the same hand and shoot it before it hit the ground.
Jordon confesses in his book that he shot a lot of rounds learning how to do that, probably thousands more than Applegate could allow in his training program because of time restraints.
Another interesting thing is that Bryce shot from a semi-crouch.
Bill Jordan made a big point in his book of his belief that one should stand straight when shooting.
They were both fast fast fast.
Bryce once was surprised by a BG who was already pointing a gun at him. He drew and killed the BG before he could pull the trigger.
Jordan once shot and killed three Mexicans and came out without a scratch even though they were all drawing on him.
My point is that their technique differed but they were so good the results were the same.
So what works for you is what counts.