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@Slack
I have a stages, also two p2m s-types and have used powertaps for years before I switched to crank based. My experience with my p2ms has always been faultless, my first two originals and now two s's the only downside is the old ones are ugly as f.
The only reason I bought a stages was because I got a mega deal on it and already having the other two, the concern about reliability wasn't too bad as I had a fall back option. Having known the issues all my friends had had with the first few generations of Stages it was a punt to see whether they'd managed to fix all their problems. I can say it lasted my through the Roubaix challenge in the rain with no issues, and I've been using it since in all weather and haven't had any issues and haven't had to change a battery yet.
I'd say, if you're getting a brand new one, with a new cover and you update to the latest firmware you'll be fine, but I'd steer clear of any old stock as they are awful. The readings seem consistent enough with the p2m to use for training. I haven't raced on it so I can't comment on that, although it is noticeably slower to respond in displaying an effort compared to the p2m.
I wouldn't have any trouble recommending one to a friend now based on my experience of my own.