While I agree with Lawrence B. Crowell's answer, let me formulate answers to the OP in a more elementary language.
String theory is really a theory of strings, and can not be reduced to the study of its "constituent points", simply because these would-be constituent points can not be identified in an unambiguous manner. In other words, you can choose a parametrization of your string (say we take an open string and label the endpoints by $x=0$ and $x=1$) and then consider the point $x=0.4$. But this point has no physical reality, as another observer could choose a different parametrization. And it is fundamental in string theory that all parametrizations are equivalent.
You then mention the Heisenberg uncertainty principle. And yes, this principle indeed applies: the string, when quantized, has some fuzzyness that is taken into account by the path integral formulation of string theory (this is similar to what is done with quantum fields).
For your last question, yes the string is a physical string, which has a characteristic length (usually called the string length $l_s = \sqrt{\alpha '}$ ; but this is not the absolute length of the string, as this length can vary) and a cross section, which is vanishing in the classical description.