Yeah, railpasses only pay off if you ride a lot of distance in a given amount of time.
On the other hand, a few years back when I did get a Eurailpass (the unlimited kind, not the "x days in y time" kind), it encouraged me to go farther afield than I originally planned, and to take some day trips that I might not have done otherwise, since the marginal cost was nothing.
But on other Europe trips, I have found point-to-point tickets the most practical.
Rick Steves' website has some good info on deciding whether a railpass makes sense for you, and which pass to choose in his online "2002 Guide to European Railpasses" (also available as a free booklet on request):
http://www.ricksteves.com/rail/home.htm
Kathy