I went to two metal detecting events in Virginia, and back then I had no pinpointer. I would spend up to 20 minutes looking for some of the smaller signals, and it was really a waste of time. By day three, I borrowed someones pinpointer, and the day went by much faster.
The second DIV event, I still had no pinpointer, so I found a dealer, and asked if I could borrow one, and even pay him some money for it. He was a nice guy, and he let me use it the whole event for free. Things went by much faster that time.
Some of the older style of detectorists (like Bill Dancy) don't like pinpointers, it's almost cheating for them. I'm perfectly happy with spending 2 minutes at a hole instead of 20!