Presumably, and the whole point of it really, is that you have that many points for whatever rank on whatever class you're on *AT THE TIME.*
So now you won't have a r10 Gladiator with 50 physical levels worth of points, you'd have whatever new number they deem appropriate for rank 10. If you have Conjuror 50 and want to level, say, Thaumaturge, your stat values will be whatever they are based solely off the Thaumaturge's rank.
This is what would make sense. Also that the specific allocation would be dependent on each class, so you could actually play a DoM and a DoW and have appropriate stats when you switch.