I have a pair, but rarely use them. About the only time that I would use them would be on a flat duathlon with 3 runs/2 bike legs.
I have outsplit people on a regular basis in transitions that use them when I didn't. It's not a matter of practicing transitions, because I don't. It is all in knowing what you have to do, doing it quick and minimizing what you do in the transition. In a sprint race, going from bike to run there isn't a lot that is needed. Feet should already be out of the bike shoes before you get off the bike. Run to your rack space, rack bike, slip on shoes (with elastic laces), grab your hat, number belt and go. No more than 5 - 10 seconds at the rack. You put your number belt and hat on while running.
last year I was going head to head against a guy that I believe was a better cyclist than I was, he would pull away a bit on the flats, but everytime we came to a hill I was able to go by him easily. He was using Pyro's. Maybe I was a better climber, but I really think that in a hilly race, the Pyro's are a distinct disadvantage.
Mike Plumb, TriPower MultiSports
Professional Running, Cycling and Multisport Coaching, F.I.S.T. Certified
http://www.tripower.org