Yeah, I'd say in the league I've paid most attention to, the top total points team is in the finals.
The question is, though, I suppose one is getting at is: How do you value that and what format are you playing in? I've played in a total points league where everybody was out of it thanks to a buzzsaw by Week Eight, really. That's no fun.
Personally, I like playoffs and head-to-head. Gives me something to root for all year. Deamon's points above are all well-taken and I find ring true. There should generally be a top six or top four (depending on whether you have divisions). It keeps it interesting, keeps people involved, and provides that weekly impetus to cheer and not cheer for guys.