The joints can be extremely durable, here's a part from wikipedia:
"Wire wrap construction can produce assemblies which are more reliable than printed circuits: connections are less prone to fail due to vibration or physical stresses on the base board, and the lack of solder precludes soldering faults such as corrosion, cold joints and dry joints. The connections themselves are firmer and have lower electrical resistance due to cold welding of the wire to the terminal post at the corners."
Rerouter is right - here's the link to the wiki article:
https://en.wikipedia.org/wiki/Wire_wrapSoldering the joint can introduce noise due to the Seebeck effect (different metals - and a temperature difference = magnetic field, voltage across a wire) Besides, the wire is cold welded from the bending so there's no need.
They're quite easy to make too - just get a wire wrap gun!