A couple times I've hit the button just to see what the game would do, then cancelled and assigned the points myself. Auto level may work in a game if it is based on the skills you use the most, but if there are actual points to distribute, an pre-set build is generally not going to be as good a fit with a particular character / equipment / playstyle as a custom distribution.
Agreed, I like to perhaps have a look and possibly let it help my decision but it's not a real character until it has been made by the player from scratch.