I think 2 seperate discussions started taking place. Some are talking about reference points as in knowing where they are on the track. ie. after that cone is a right turn, then after this hill is a left turn. I think what hubbard is talking about is using reference points as braking, turning, and throttle markers. ie, 1st cone brake, 3rd cone turn in, crack in pavement start turning the throttle.
Everybody needs reference to stay on the track. I wouldn't necessarily call them reference 'points' though. Could be the wall, end of the asphalt, white line, rumble strip, etc. How does one go fast and consistant? You need to use reference points in terms of when to brake, turn, and accelerate. Without them, you'll always be braking and turning at a different part of the corner and the lap times would flucuate.
One of the problems I had was as I got faster in one corner, it messed up my braking marker on the next corner because I was going at a much greater speed. For me, it was definitely a good problem to have because it was a sign of improvement in the corner. Some corners would be fixed within a lap, others I'm still having trouble tying all of it together.