Hey OP,
I used a PowerTap for about 5 years before switching to a Quarq.
Anyway, a PowerTap is very easy to use. You sync it with your computer and it gives you a power reading. It's as simple as that.
As far as what value it provides, here is what I will say: It is a neat tool, but that is all it is. It gives you a piece of information. How you use that information is up to you. If all you want it for is to see what power you can put out, well, that is fine and cool, but then it is kind of just an expensive toy - again, nothing wrong with that. But if you want to maximize the value of the tool, you can use a power meter to set your training plans.
The real learning curve comes in figuring out how to use the power figures the PowerTap gives you to improve your cycling. And that has nothing to do with technology, so you should be good.