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It depends what you are going to use it for and how much of a data geek you are.
In my experience, a PM allows you to optimise your training sessions, i.e. it tells you when you're not going as hard as you think you are, so you spend more time in the zone(s) you're planning to, making each session more effective. For most, a Stages will do this just fine as you'll get consistency between sessions from it.
It does have one major limitation, which is that it's only measuring power on the left hand side and doubles that to give you a total. This means it's accuracy is not as good as power2max (or other PMs that measure on both sides) but if you can live with that then it's going to be good enough.
I was going to buy a Stages but there stock supply has been woeful (which doesn't fill me with confidence about their longevity if I'm honest), and went for a power2max in the end. I'm glad I did as it has been 100% reliable and accurate since I bought it.
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andyp
So I have some unexpected money and am thinking I'm going to power up like Goku.
I can get stages rival for 600euro to replace my left sram red crank arm. http://www.powermeter24.com
Or I can go power2max s900 route which will cost 940+180euro
So, £480 vs £880. So it seems stages pisses all over power2max for value. Can anyone provide a compelling reason why I might be making a mistake? I don't care if I have to replace the cheap as chips battery in the stages.