TECHNICALLY speaking. I really do both. On slimlines, designers, and other non-capped pens, I point the tip (where you write) towards the tailstock. I do this, like epson, since it is how I first did it and I like to remain consistent.
Now on capped pens, such as the classic, classic elite, and gentlemen's, the top of the cap is closest to, and pointing to the headstock, and the tip (writing end) is in the middle also pointing to the headstock. This allows the wood grain to flow consistent when the cap is on the pen.