power mode is simply a change to the throttle pedal feel, nothing else. it gives you more power earlier in the pedal travel. normal mode is the same power a little further in pedal travel, and eco mode is furthest, and also reduces a/c output, conserving some electricity. i have never used power mode, because my foot is capable of stepping on the pedal harder. but some like it.
I always have it on when I'm on the freeway or anywhere traffic is moving steadily and quickly, to be ready for any sudden maneuvers I might need to make.
ECO mode also lowers target coolant temperature for the warm-up cycle, as well as tweaking the A/C. That is the only substantive difference in the ECO/normal/PWR settings. Floor the pedal in any mode, and you will end up with the same power. At that position, the commanded power from the pedal is the same is all modes. PWR just makes it feel "peppier", since you don't have to push the pedal as far to get a certain power at the intermediate offsets. Just a silly mind game.
I prefer to describe it as a "different user interface". Different users will have good reasons to favor different interfaces, even when there is no difference in the underlying machine performance.
I keep mine in Eco. As Charles indicated even in Eco power is available when needed. There are a few instances where I pushed a bit too hard only to think, "Great now the engine is running!"
I use it when I'm in a tough situation. I guess kinda like KITT and Michael in Knight Rider. The only problem is, my car is not a Pontiac, it's not black and i don't fight crime. Use it when you need more kick out of your engine. This includes merging into a freeway, going around a slow driver, getting away from the bad guys. All I need now is a red strobe light in my Front bumper.hmmm
I would love to have the just ECO changes other than gas pedal response. Since that's not an option, I stick to "normal".