While this is true, you would think he should be a good player in that one on one position. Truth is, you're right, he really isn't. He has the hands and the skill to be able to beat d-men one on one, but just doesn't often enough. Still, PK units are going to have to respect him in what my co-host calls, "The Stamkos Spot", leaving other people open down low or at the point. The real problem is that nobody respects or should respect our shot from the point. Fayne has nice low, accurate shot and Foster has the potential, but that's about it. Like you said, opposing D's will just collapse down low, daring out point shot to beat them.
Opponents are not going to let Kovalchuk 'set up' and rip shots all day long like you're suggesting. Nor do I think that's a particularly good strategy even if they did, because if he's missing those shots high and wide it will probably result in free clears for the opponent.
I don't think Kovalchuk is a good player when he's stationary and someone's coming at him - a position that he will find himself in a lot over there.
In the end, it's our lack of offense from the point that's really killing our PP. It's improving but that's not saying much considering how bad its been.