I found one useful for working out HR zones and and learning how a given level of effort feels. Also on long time trials it was handy to help keep your effort consistent.
Now I don’t race (or train to race), I find the faff of finding the chest strap and putting it on isn’t worth the info it gives me. (likewise my whizzy cadence meter.
Some of my chums who are still into competion find some sort of power meter much more useful as a training aid.
As far as accuracy of calories used go – I don’t think they are.
If you do get one, don’t rely on the little booklet that gives you “typical training zones”. They vary depending on the type of exercise you do (eg running or cycling) and the type of body you have. Best to do a proper ramp test or something similar.