Pinpoint works like wget/curl in that it just fetches a webpage without rendering any script. Pinpoint will then try to determine which links are used to make up the webpage such as Javascript, CSS, frames, and iframes and downloads those files too (some Javascript content will produce incorrect links). The list of links it finds shows up in the document tree on the main window.
At the same time, a log file is created which shows the links and in which file the link resided in. It will also download the file and calculate the “entropy”; the higher the value, the more rubbish characters it found which may help identify obfuscated Javascript.
You can of course spoof the user-agent string and referer values to ilicit a malicious response from the website. There’s also a function to clear your cookies (see Options menu item) since many exploit packs check for the presence of cookies on repeated visits. Use Tor to get another IP address since it’ll get banned usually after the first visit.