Unless you have specific goals I'd say a power meter is unnecessary.
My big event is the Mille Cymru 1000k
So general speaking my goals are
1) get quicker up hill
2) be able to ride on that kind of terrain at LSD pace for the full 1000km under Audax conditions, ie minimal sleep, eating beans
If I was to break down my "get quicker up hill" goal, I might decide that it would be both good and possible to generate 10% more power. Then I'd have a quantifiable target.
As for the "LSD pace for 1000km" goal I could raise my power and this would drag up the power at LSD rate. ( see
Ultra Cycling: Intensity Training )
Again, I could figure out some numbers
So, I could have very specific targets for my general goals. But if I just do what I'm going to do it is my belief that I will meet the general goals.
I guess the point is that some people say that using a power meter works better than a "do the hill repeats" approach. By this I mean that if I was to train in the power meter way for a few hours a week i could meet my goals, whereas with a "do the hill repeats" approach it would be many more hours. Or I could put the same time in and with the power meter I'd be fitter.
I'm just not sure that this is really the case. I am not a talented bike rider in the sense of natural aerobic capacity. There is a limit to how much any training is going to benefit me. A power meter can't make a purse out of a sows ear.