I've actually heard that aerohelmets have more benefits than the aero wheels... I don't have a source on that one, but I think it was on here. (Oh great... and now I've started the thread to offtopic land).

Here's an interesting article from Cervelo with some numbers:

http://www.cervelo.com/content.aspx?m=Engineering&i=Aerodynamics

Body position will give you the biggest bang for your buck (and it will only cost you the price of a good fitting!!).

You could be restarting the classic debate that will never be solved (and like Kyillee said, is a bit off-topic!). There are people that will make arguments that the money is better spent on a coach, and others that will make the argument that the money is better spent buying a power meter and learning to train with power.

My personal opinion (and you know what they say about opinions!) is that I have a hard time justifying spending $1000 to $2000 for a set of wheels that might only put a couple of hundred miles on in a year. My wheels are not my limiter when it comes to my cycling.

But if you've got the money to spend, go for it. If you've got a lot of money, buy yourself wheels, a power meter, and a good coach.

thanks rjkowski, that article really puts things in perspective. My money will be going to a proper bike fit.

there's also the problem of whether you're capable of getting into an excellent position. folks with back or hip problems may never see the time savings shown on the cervelo info. maybe a rationale for purchasing aero equipment? (woohoo!)

My checklist, in order, of ways to get faster on a bike:
1. Improve body composition. Plus you get free running speed.
2. Good bike fit and knowing when it needs to change.
3. Improve flexibility to give you ability to achieve most aero position possible
4. Train better. Includes, but not limited to:
a) get a plan, a coach or both
b) ride more, if endurance is a limiter
c) ride faster
5. If you've got the money and are willing to invest time in meshing your goals with your training and racing results more precisely, THEN get a power meter. You don't get faster just by sticking one on your bike. If you don't get excited about data or you aren't willing to pay a coach big $$$ to analyze your power data, then a power meter is not for you.
6. Aero/lightweight gizmos--helmet, wheels, anything carbon.

But like glbrum said, if $$$ is burning a hole in your pocket, skip directly to #6, but remember those things will only make you faster SOME of the time, whereas 1-5 make you faster ALL of the time.