Power Meter or CycleOps Virtual Trainer

Personally, I think it's more valuable to have the PM and be able to track & plan your training indoors or out.  It can also be a useful tool for racing (esp. long course). As far as brands, there are pluses/minuses to each of the majors (PT, Quark, SRM) but I would go with one of them (I have an older 'wired' PT that still works great).

But what will help you be more competitive is riding more/harder.  Whatever you can do to achieve that will be best for you. 

Get the powertap because you can use it outdoors and during the race. When ur racing it's sorta like cheating (not like doping tho-lol). I use cycleops g3 and I  have a pro model as well.

Get you a power meter. I have a quarq and within a year i went from a 6:15-5:39 from the bike and had a strong run (no walking compared to walking a bit in 2011 having a 5 hr mary and in 2012 had a 4:05 mary. Not fast but improvement). PM is consistent. It shows u immediate output compared to HR training. When on hills u have to pace urself, focus on pedaling and etc and then hammer down the hill bc u paced yourself. On a hill, your HR doesn't spike till after u come over the hill then spend the next few mins trying to get HR down.

PM can be used while riding on trainer or outdoors. Train with what you can use while racing.(don't get powertap bc then ur either training on a expensive race wheel or will use them sparingly). But only get a PM if your not gonna follow it. Pointless to have it if you go out on rides and don't pay attention to it or put your ego aside.

^^^  So much truth in this post.  Love my Quarq.  Do it.

Thank you all for responding.  I went back and looked at my performances in last year's races.  I was more like top 20% to 40% so I hope I didnt give you the wrong impression.  Anyways, more room for improvement with a power meter 

Now, which type to buy?  Again, I have a road bike that I do 80% of my training on and a tri bike I race on.  I ride with groups for the most part and they do not allow tri bikes on group rides.  Therefore, I have to use my road bike more.   A crank based system such as the Quarg is not transferable from bike to bike.  They are also more expensive than the hub based.  The hub base systems may be able to transfer from bike to bike (SRAM to Shim) but then youre racing on your training wheels. 

What is better, if I cannot afford both: 1) crank system on my road bike to do 80% training and race without the power meter. 2) Hub system utilizing switch outs and using one set of wheels for training and racing?