There was a point-buy system in Mercs 1st edition. It worked because each 'Mech and vehicle could be listed in a couple of pages of one book.
How would you address every one of the thousands of units in BT today, and give them balanced valuations? You might want to avoid SFE flashbulbs, but I'd likewise want to avoid everyone picking up XXL monstermechs.
The point-buy system in Mercenary's Handbook (that is, Mercs 1st ed.) went something like this:
-You started between 10k and 600k "unit points."
-You paid for either single "squads" by weight-class and skill level, or lances by a range of weight-classes that made less sense than you'd think; as an example, two Awesomes and two bug 'Mechs = a 200-ton
medium lance, while four Griffins (medium 'Mechs, of course) were 220 tons and thus a
heavy lance.
-The costs for 'Mechs at Normal were 460, 780, 1140, 1680 for Normal pilots. You could reduce this to 40% by taking them as "Salvage" quality. The pilot modifiers were x0.5 / x1 / x2.5 / x5, so yes, that Elite Assault 'Mech cost 8400 UP new.
-You were able to purchase DropShips (a Union was 16k UP); you could also purchase JumpShips, but you also had to roll availability on them.
-After that, you'd roll for your 'Mechs, with each 3025-era model having its own availability target by chassis. Though it's not feasible now (at least without a supplemental) due to the sheer number of chassis we have, it was calibrated in a pretty canon-friendly way. Take lights, for example: bugs were very easy to roll for, while Jenners were very difficult.
-Finally, UP were converted to cbills at 1:10k (the same conversion as Chaos Campaign SP.)
So it was similar to generic values in IO, except:
-Higher starting money (the low end is equivalent to 100 million... but...)
-More expensive units, with cost greatly affected by operator skill.
-Could buy DropShips without a roll, but had to buy any rolled-for JumpShips to get them (in IO, you have to roll for both, but they're "free" if you get them!)
-More nuanced 'Mech acquisition rolls, and those rolls are not affected by operator skill.