And the biggest problem I think in evaluating power, wealth, status, etc is that a significant number of people argue that those things are "bad in themselves" and thus "always empty."
I don't think that is correct at all. The power to defend yourself, enough money to live reasonably, and enough status to be well-regarded by your friends are perfectly proper Epicurean goals. So happiness does depend on some amount of power, wealth, and status. It is not reasonable to expect to be helpless, penniless, and hated by all your neighbors and still live a happy life. Extremely rare exceptions to that generalization might exist but the fact that they are extremely rare establishes the conclusion as a general good rule to follow.
Cassius I think you may be picking up on how the words "power", "wealth", and "status" are too vague.
It would be more correct for me to say (and put into modern times):
Groundless and incorrect opinions are when people believe that well-being and a pleasurable life require taking a political career or a corporate CEO position, a large amount of assets and great amount of monetary funds, a wardrobe filled with designer clothes or garage of top-notch sports cars, or receiving great awards such as the Rock & Roll Hall of Fame, Guinness Book of Records, or a Gold Star in Hollywood.
Also, the emphasis is on when you don't have it, not if you've already acheived any of these. And, if you have already acheived any of these, then you'll likely know how they come with great stuggles, competition, and a loss of personal freedoms (paparazzi chasing you, and/or "contracts" with the people who helped you get to where you are and that you are unable to extricate yourself from).