Having a billboard with a constant size in screen space, size that doesn’t change with distance from the camera, is useful for things like indicators of 3D positions.
While it should be possible to use WorldToScreenPoint() to get screen position, and then either position a 2D sprite or use ScreenToWorldPoint() to get a 3D position for a billboard, it requires manual updating and culling, and should be less efficient than having the billboard render directly with constant size, and the depth and parent node information is lost (unless manually saved and accessed).
If I recall correctly, in OGRE3D it was possible to achieve that with:
Ogre::BillboardSet::setPointRenderingEnabled()
ogre3d.org/docs/api/1.9/clas … 1bbd8cf3b6