At the risk of sounding a bit dumb, what is a power pedal? A road bike thing? In my defence, I ride a tourer.
Already replied to in detail I can see, but what I would add is that it is probably the easiest power meter you can travel with, and shift between bikes quickly and easily, also if you go dual sided, you benefit from the even more accurate power measurement on both sides.
For me personally, I find it most useful for measuring my effort on a 1-4 hour ride, as I know what kind of power I can maintain, and know what I need to average to be able to finish strongly, which is my preference.
Also, quite a boon, to me anyway, if you want to go and tackle some big climbs in Europe, and or hill climb events over here.
You can set up your display with current watts, average watts, 3 second or 10 second power etc etc.
Probably the biggest thing for me is that it helps me not over do it early on in a ride, where as previously I would often be feeling good, and go out too hard, too early, and then suffer in the latter part of the ride.