Quantum mechanics sets severe limits on the sensitivity and required circulating energy in traditional free-mass gravitational-wave antennas. One possible way to avoid these restrictions is the use of intracavity QND measurements. We analyze a new QND observable, which possesses a number of features that make it a promising candidate for such measurements and propose a practical scheme for the realization of this measurement. In combination with an advanced coordinate meter, this scheme makes it possible to lower substantially the requirements on the circulating power.