If I understand you correctly you need to count the pulses sent by the meter for time interval of 200ms. Definitely GPIO binding isn't designed for what you are trying to accomplish, even I'm not sure that PI is the right choice for hardware either but I'm not very proficient with it so I may be wrong. For me this looks like a task for micro controller based board as Arduino where you don't have the overhead of non-realtime OS. Or some functionality as Beaglebone's PRU if PI have such...
No matter what you will choose, openHAB could be used for the integration part, it isn't appropriate for data collector. Counting pulses from Java application running in JavaVM on preemptive OS isn't the best solution...