"eutectic point". I have no idea what-so-ever, but it sounds highly speculative to me
No speculation at all. Let me provide this wiki for you. http://en.wikipedia.org/wiki/Eutectic_system. The graph shows how the melting point changes with the mixture of two metals. If you add a third dimension of pressure to the graph, you will generate something akin to a thermodynamic surface and the mixture may be gases as well as metals. If you consider the thermodynamic surface for water then regard the triple point where temperature, volume and pressure allows ice, water, and water vapor to coexist then if you add salt or add some other liquid to the water the triple point changes its location on the graph.
No, eutectics are vary real and useful in industry. If you know a welder ask him/her about it you will find that if they paid attention in welding school, they know about the eutectic point for any rod they use.