Both have power. The man has the power by choosing to approach, talk to, relate with any woman he wants, and generally anything that involves ACTION. Making moves can be possible with limited emotional damage with the right attitude. The limit is that not every woman is going to want him for whatever reason, so it's a trial and error sort of thing. The amount of power is also limited to how and when he acts with what frequency.
The Woman has the power in that she can choose to be with any guy with the balls to lead and smoothly move from one phase of the relationship to the next. The limit to her power is that she only has a specific pool of guys to choose from and it is very hard for her to initiate anything herself. She is often dependent on the guy's power to act. Making any moves herself is perceived as emotionally risky. Plus, the guys that want her aren't the ones she wants, and if there is a guy she wants there isn't much she can do to get him to act besides being around him and hope he takes action with her or whatever.
After the relationship is set up, the guy has the power unless he gives it away and allows her to manipulate things or gives in to her sh!t. The shift in power occurs again when he asks her to marry her, in which case she has power in the relationship if she doesn't give it away. That power is the power to leave him and take his kids and half his sh!t and a portion of his future earnings, which puts the man in a position of constantly doing what he can to "make the marriage work" or puts her in a position to nag, b!tch, and critisize with impunity if he lets it get to that point and becomes more AFC.
