Part of it will depend on how much you want to spend. I think the power meter you are talking about costs around $1,500 while the P2C is around $3,500-$4,000 or $2,500 for the frameset.

Of course if you bought the frameset, transfered your parts over to the new frameset, and then also bought the power meter you would have it all!

A new bike isnt gonna make you any faster- assuming your current bike fits you right. I would get the power meter and a FIST fitting to ensure you are aero.

Have you been riding a while? Find yourself plateauing? Ride 3 days or more a week? Answer yes to these and power meter is definately for you. If not, IMO, the value of a power meter is diminished.

I would pick a power meter over a new bike too. New bikes are "pretty" but assuming your current ride is good (a 2005 Cervelo dual 10 is solid) then the meter might help you go to the next level. Of course training really hard and really smart is the key to going faster.

I agree with the previous. A new bike is definitely nice, and since you already have a tri bike, a PM would be the way to go.

There is only 1 reason, only 1, why a P2C would be better bike than the Dual is: FIT. If the P2C fits better than the Dual than changing bikes would be a feasable decision, otherwise, the PM would help exponentially than having the bling of carbon.

Go with the PM!!!

I agree with the responses previously mentioned. If $$$ are not an issue which they don't seem to be get some new wheels with the power tap, then you can change out your race wheels to your new bike when you get that. I wish i was wearing your shoes. That's exactly the kind of problem I'd love to have!!
I'm sure you'll be happy either way.

Power meter - current bike. When I first went to IMC to sign up a guy was riding a steel framed basket sporting thumb shifting relic (not sure if he finished overall but he was doing it). I have a mediocre bike - and remember passing a few carbons and disc wheels along the way. Improve the rider then the bike.

my cdn 2cents.

Option 1.....

If you don't do MTB races, what about Option 4:

Sell the MTB, buy the Ergomo and get yourself a coach to guide you through training BY power (instead of what a lot of people do which is train "with" it, i.e., they just have a really expensive bike computer and make statements like "I saw X watts!"). Or maybe you don't need to sell the MTB at all, as you can purchase good training by power plans.

Why? As others have said, assuming your current tri bike fits you properly (or can be better adjusted to fit you better), a new bike is not going to make you faster.

And a power meter by itself is also not going to make you faster.

What IS going to make you faster is changing your training in a way such that you maximize the time you have available to train and that you use that time in the best way possible to get stronger on the bike.

A power meter, together with the right type of training, gives you a quantifiable way to chart your progress, understand how much training you can absorb, and pace yourself in a race.

While you can sort of do that without a power meter, it's just easier to do with the device plus Cycling Peaks software.

To be a good power meter user, you need to be willing to learn how to properly use the device (including zeroing it before each ride, charging the meter), learn how to use the software, religiously download your workout information into Cycling Peaks, look at the information and troubleshoot your performance and possibly the mechanical setup on your bike. If you aren't willing to do all these things, a power meter is not for you. It isn't just something you slap on your bike and voila, you are faster!

I am not saying these extra things take up a lot of time; if you are truly interested in becoming more powerful of a rider, the care and feeding of your power meter and resulting data becomes just another training activity.

YMMV

I wouldnt sell the MTB. Its a great alternative to the road and can provide some reflief and motivation as the tri season rolls on.