Seth Hosmer
Both SRM and Power Tap are high quality units - the main complaint I hear about SRM is the cost, and the main complaint about PT is "I don't want to race with a heavy wheel". Plus, you don't really want to be racing on a tire that you train on due to tire wear/damage issues.
If you can swing the SRM, it allows the best wheel choice flexibility and both the splined BB models and newer two piece designs are relatively easy to swap between bikes. I regularly rotate an SRM between my road, TT and winter training bikes and it takes about 5 minutes. Not as easy as a wheelchange with the PT, but then I am not limited with wheel choice for racing or training.
The SRM is rock solid in wet weather. I haven't used the newer PT in wet weather to provide first hand experience, but I hear it performs well. The older PT models were unsatisfactory in wet weather in my experience.
Wireless models of SRM and PT should increase reliability as the wired harness can be a source of trouble. Plus, at $60+ per wiring harness, if you are switching between bikes, you eat some of your savings. Powermeters are all going wireless anyway, so it is probably good to go that route.
Further, with some of the new wireless models using the ANT+ wireless protocol, you can use different computers...e.g. use a Garmin 705 with the SRM.
As far as service goes, both SRM and PT have excellent customer service. SRM is easier/cheaper to ship than shipping a PT wheel if that is required.
If I had it to do all over again, I would still choose the SRM. Reliability has been stellar, I can use whatever wheels I want, and switching the cranks between bikes isn't a big deal. The Quarq power meter looks promising, but they just started shipping...initial impressions seem to be favorable but long-term reliability is thus far unknown.
Seth Hosmer, DC, CSCS
Health & Performance Chiropractic
www.HPChiro.com
503.227.2279