Real Axiom Elite vs. Computrainer?

Got one - RA.
IMO, it's perfect for doing intervals - if you have a Powertap. The unit is not accurate unless you can calibrate it with a known accurate pm. The RA is satisfactory when calibrated against itself, but don't expect reliable accuracy at every wheel speed (probably 5% in either direction).
By itself, it's useful for breaking the monotony due to the varying resistance you can dial in. Don't expect anything more than 4% gradient, at best, regardless of company literature claims. If you live in an altitude challenged environment, that 4% is better than nothing.
For the money I paid ($450) several years ago, it's been a decent enough deal as it's withstood an average 3x/week/yr use. If swinging for a CT doesn't destroy your disposable income level at any given time/moment, I recommend saving up for it. Used ones can be had off eBay for around $1000, and their longevity rep is excellent...

I had a Real Axiom. it was ok, but I wish I had bought a powermeter instead. DO you currently train with a powermeter as well?

Yep, I have an old wired Powertap on my trainer bike which I would still use with a RA or CT. I like the idea that with the RA when I'm doing an interval, I can set the desired power and if I start backing off because of laziness or whatever it increases the resistance and forces me to put out the power.

TonyZ, when you said it couldn't deliver more than about a 4% grade do you mean that the power it can absorb is limited? Almost all the intervals I do are in the 250-300w range with a few workouts that have short (I mean VERY short) bursts of 500w or so. I assume the RA can handle that just fine?

Thanks, guys

You can input a positive "grade" and the unit will attempt to replicate this. This means the resistance unit will, electromagnetically, make the effort to turn the drum the tire is in contact with more difficult. The effort will definitely increase, up to what I believe is equal to about a 4% hill outdoors.

Regarding doing intervals at certain power levels, don't be concerned - the RA can handle them. Further, the RA can absorb 1000+ watts instantaneously as I've done sprints that have registered 1200+. This is max wattage as I doubt the unit could sustain this level for any duration longer than a few seconds. I've done 500w+ L6 intervals with no problems on the RA.

I will give it to the RA, because of its large flywheel (3lbs+) and combo fluid/electromagnetic resistance unit, it has a better 'road feel' (IMO)than the CT which has a relatively small and lightweight flywheel.

I suggest you review your finances and try to swing for a CT.There is nothing nicer than writing an .erg file for LTs or VO2 intervals and then just pedal away. And doing it in front of a TdF dvd is even sweeter.I've had mine for almost 5 years and it is still working well. Though I must admit it is also nice to have the PowerTap to compare the numbers with. I do my intervals at close to 100 rpm, which I think is a little faster than what Ct recommends for best accuracy.

I have the RA with a powertap and have used a CT a few times. the RA is not that accurate power wise and there is quite a bit of drift within a ride. I find that on a 2hr ride it will underestimate by 15-20% at the start of a ride then overestimate by 10-20% at the end of a ride. I think a fair amount of this is tyre temperature,as most of the change happens in the first 15-20min. I do like the more realistic road feel, and when you follow a video course you can feel the load change as you ride. I think the load unit max's out at 7% (ie as the gradient goes over 7% there is no added load to the unit). If you use the PT for setting the intensity, I guess it does not matter too much. If I had the choice again and money was no object, I would probably go with the RA again - as the video course do make a nice change, and if you are doing a structured interval sessions, with a powermeter, the trainer reading does not matter so much. if I had no powermeter, I would definitely go CT.