Its no good as a comparison against other people, but individually you’d see an increase in speed for the same heart rate?
Admittedly it will be a bit up and down depending on how your heart rate is affected by illness or general run down-ness etc, but over time you would see an increase in speed for the same heart rate surely?
Then the only way to tell if you’re going to be able to compete [in a race say] is to get out there and find out.
But even with a power meter, how much genuine rider data is there out there anyway, for amateur racers in cats 2,3,4??
And how much is “I was flying, must have been pushing 400W up that climb!!” with no scientific measurement 😉
If I bought a power meter, I still don’t know what power I should be aiming for to make sure I can compete in races.