Eurail p a waste of money?

My boyfriend and i are planning to travel europe soon, to about 7 diff countries (all included in the p except for the czech republic). we were planning to get a eurail p, but we've been hearing that it's alot cheaper to but point-to-point tickets and that eurail pes don't guarantee a seat. this is a budget trip, so any extra money saved the better, but im a bit worried that it'll be a bit risky without a p..? which is the best option and why?