Originally Posted by
gregf83
Hard training combined with lots of racing will do a good job of increasing your fitness. A powermeter might be slightly more efficient and it's certainly interesting so you'll have to weigh the pros and cons. I wouldn't expect you're going to boost your FTP by 5% just because you get a powermeter.
^ This.
There are ways that a power meter might be able to make you faster, especially if you're doing TT or Triathlons on that DA -- but you were only asking about training and pacing. For training and pacing purposes a power meter is more efficient, and maybe more fun, and maybe more interesting -- but you still have to do the work. You have to do the work whether you're using a power meter, or a HRM, or a wristwatch and speedometer.
The other way a power meter can help you get faster is minimizing drag -- but for that you'll need a power meter that's accurate across the entire range of power output.