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Wow, that was cool :)
Never thought that such a simple thing can be described in such complex terms.

Well, "е" and "и" really sound almost (or may be even completely) identical when not stressed. And it is hard to say whether this sound is closer to stressed "и" or "e" (however most people think...

'o' in точка (and in any other word in stressed position) is pronounced as O, not Oi. The same is true for 'a'.
What you have described is neither common nor correct.