FWIW, I'm doing Chicago in just over 4 weeks and am planning on doing a half this Sunday. If I didn't race, my schedule called for 20-22 miles, with the last 12 at marathon pace.
So I'm going to do like a 5-6 mile warmup, then run the half at marathon pace, and then do 2-3 mile cooldown, effectively emulating the workout. If I feel really good, I'll probably hammer the end of the race for fun and confidence, but I want to work on holding marathon pace for at least the first 12 miles.
Three of the major factors influencing me to do it this way instead of going for a PR:
1) I really need to work on holding back and running marathon pace early, even in a crowded race situation with adrenaline flowing. Last year, going out too fast was part of my undoing at Chicago, and this year in training, I don't quite have marathon pace 'dialed in' yet; it seems a lot of my M pace runs end up 10-15 seconds fast per mile. All signs say the fitness is there, the pace just isn't dialed in. I figure this is the perfect opportunity to try and dial in that pace, and work on holding back when I'm jacked up and everyone around me is, as well.
2) It's a hilly course, and probably not great for setting a PR on anyway...why attack a PR that I won't be satisfied with, if I'll have great opportunities to run a quick time in the spring?
3) I'm running a 10k six days later. It's the big hometown race, and I do plan to race that all out. It's definitely not a good idea for me to race an all out half marathon followed by an all out 10k so soon, then start thinking about tapering for Chicago.
So that's what I'm doing. Basically I'm sticking to my workout plan but using the race environment to enhance the fast portion of my long run. Plus maybe build a little confidence at the end. If I can kick people down like mad after running 16-17 miles, with 12 of it at marathon pace, that'll build some confidence for Chicago.
So to Precious Roy, who said "No reason to waste $50-70 to run MP for 13.1.", for me, practicing running MP in a race situation is exactly what I need. So maybe there is a reason. And it's only $30. Plus, it's just fun to get to a race and see some of the guys sometimes.