IMO: The amount of trichome density in a variety is not always good marker for high potency because the content of total active cannabinoids in each trichome can be low in certain phenotypes and varieties. This has nothing to do with terpine content.
As far as terpenes go, I think this is the most misunderstood part of cannabis and a ton more research needs to be done. I also consider understanding the importance of terpenes to be my biggest break through of this entire 18 month process.
I can only speak from my practical experience making a variety of extracts with several dozen strains, but I will stand the line on this and say with high personal certainty that the biggest difference in cannabis strains (in potency or effect) is the terpenes and other volatile organics when total cannabinoids are above a certain level. Have you every vaped pure distillate? It is flat, boring and uninteresting on every level. Why is that? Because you have removed everything that makes a strain unique. If the main differences in strains are primarily cannabinoid based, then why can you not take an extra hit from a 17% strain (versus a 25%) and get just as high? Why do some strains that have 25% cannabiniods have a weak effect versus others lesser ones? If you make distillate (pure cannabinoids) from Chem D, do you think it will remotely have any effect of the flower?
I really don't want to side track this thread, but would happily create a new one in the concentrate forum. I will just say that my breakthrough on terpenes came when I began making ethanol extract and over-purged (too much heat) a batch of Space Cake shatter. I fucking love these flowers, as it has the best cookie taste of anything I ran and more importantly a very deep strong high effect. When I dabbed the shatter, I was so unimpressed. Where did all the effect go? After months of reading and extraction experiments, I finally came to understand that I had either never extracted the terpenes in the first place or purged the terpenes along with the ethanol. Thus, terpenes are what gives a strain it's effect profile when combined with high levels of thc, cbd, cbg, cbn, ect.. I am not discounting cannabinoids in the least. They are the motor, drivetrain, frame, structure but the terpenes are the soul and feeling. A silly metaphor but...
Edit - I have purchased 15 different isolates (not strain profiles but the base terpenes themselves) from True Terpenes and been doing experiments. A bit more on some of my recent related findings - https://www.icmag.com/ic/showpost.php?p=8194706&postcount=19