Lactate levels are more dependent on intensity and duration of exercise than on length of the recovery intervals between bouts.
For most exercise intensities which exceed the onset of blood lactate accumulation (OBLA), a shorter recovery interval between bouts will result in higher muscle lactate but lower blood lactate as the session is in progress. Longer recovery intervals will increase the lactate in the blood as it diffuses across the muscle cell membranes and has less opportunity to be taken up by the heart and skeletal muscles. Following the session, of course, the blood lactate will rise (as will the respiratory exchange ratio) as the oxygen debt is collected.
So what is happening with these various speeds, durations and recovery intervals? Plenty of things, but from the standpoint of dealing with lactate, an effort intensity which exceeds the lactate threshold and holds steady at the respiratory compensation point for a few minutes at a time should effect an increased expression of the so-called "monocarboxylate transporters" in predominantly Type I (slow twitch) muscle and in the heart. The "MCT-1" isoform is more prevalent in the ST muscles and is the only isoform present in the heart. The recovery intervals should be short (about one-fourth of the run periods) for this type of work and some jogging should be done during the recovery, if possible.
Using a much higher exercise intensity (e.g., 2 x 1 minute all-out with 1 minute walking rest between bouts) should effect increased expression of the MCT-4 isoform which is prevalent in glycolytic muscle fibers. The oxidative fibers will also be recruited during this type of work but will not contribute as much to force production.
From the old Soviet Union circa 1970 comes a session of 350m-300m-250m-200m each all-out with a 400m walk between reps. Although it wasn't known at the time, this session will mainly boost the bicarbonate buffering system but will also marginally influence expression of the MCT-4 isoform. This type of session is what is normally called "lactate tolerance training" in runner's jargon.
Note that the longer recoveries target buffering of lactate, while the shorter recoveries target "clearance" of lactate. All these types of sessions are useful at times and are actually synergistic if you know how to sequence them correctly. Improved lactate buffering can allow you to spend more time in that stage of exercise which exceeds the LT and hovers near the respiratory compensation point, since it is predominantly the bicarbonate system which prevents the blood pH from falling too low once the OBLA is exceeded. Operating too long (or too often) with low blood pH puts you on the Möbius strip of overtraining.