In my experience (which is just 3.5 seasons, but I've done pretty well with below-average team salaries) the PG is perhaps the most important position, and yes - handling and passing are very important, plus outside D.
When I upgraded to a PG with much better "point guard" skills, my game flow and shooting pcts. went up. It would also appear that if you want a classic PG, you don't want his shooting skills too high, or he will take too many shots instead of passing to better shooters.