The scent ability in MM1 states that at 5 ft. you can Pinpoint the sources location. Does this mean you could strike an invisible opponent without a miss chance? This regards Hunters sense stance.
No, the attacks still have the miss chance
Pinpointing the location just prevents you from having to guess which square the invisible creature is in. You still have the miss chance — it says so in the Invisibility description.
even if an attacker correctly guesses the invisible creature's location, the attacker has a 50% miss chance in combat.
Invisibility is very powerful in 3rd edition, and just being able to pinpoint the square the invisible creature currently is in is a major advantage of a creature with the Scent ability.