-- Answer: False --

In order for Paul to be forgiven, he had to first be baptized in water, as we see in Acts 22:16. Therefore, Paul wasn't saved by merely "faith only" after having seen the Lord on the road to Damascus. Nor was he saved by his faith and repentance only, which is manifest in the way he conducted himself after having met the Lord: for three days, Paul fasted and prayed, while he waited in Damascus in obedience to the Lord's command -- for there, Paul would be told what he needed to do.

The only thing that Ananias revealed to Paul that he had not already heard from the Lord was the need to "arise, and be baptized, and wash away your sins...." (Acts 22:16).

During his three days of fasting and praying, I imagine that Paul must have asked God numerous times to forgive him for the wrongs he had committed in his ignorance; but he wasn't forgiven by prayer. Rather, it required his faith, repentance, and baptism before his sins could be blotted out.

For if his sins had been washed away by prayer, then there would have been no need for Ananias to command Paul to be baptized to "wash away your sins" (Acts 22:16).