I'm late to the geek party, but this is a neat debate, so I thought I'd jump in 😄.
Ken, I don't think Bruce is talking about taking an RMS mean of power, but of taking an RMS mean of torque and velocity, just as in electronics you do an arithmetic mean of power but an RMS mean of voltage and current.
I think he's onto something, but RMS isn't the answer. More from the wikipedia article:
Quoted post said:However it is important to stress that this is based on the assumption that voltage and current are proportional (that is the load is resistive) and is not true in the general case
In a mechanical context, RMS would only be applicable if torque and velocity were proportional, but as frenchyge established, they aren't due to inertia.
However, I think the real point is that, if I understand how an SRM calculates power, Bruce's point demonstrates that the SRM is doing it wrong. If it really does average torque x average velocity for one revolution, then there will be an error when pedal velocity varies over the revolution. A small error, but an error nonetheless. If the higher velocities come where torque is higher than average, then it will be underreporting power. If the higher velocities come where torque is lower, it would be overreporting. If velocity happens to be just out of synch enough with torque, then it might get lucky and the errors would cancel out. But I can't see any reason for that to be the case.
I would assume that pedal velocity would vary most when inertia is low and resistance high -- like on a trainer or a steep hill. So maybe Bruce's original thought is right, that the apparent difficulty of trainer sessions has to do with instrumentation.