there real question is what are your 200 splits?
Most runners hit the first 200 so fast, that the 2nd 200 is where the big slow down begins and continues from there on in.
for example, i watch a kid do this all the time:
27
33 = 60ish at 400 if we only look at 400 split we would miss this
33
32
runs 2:05
obviously he is going out too fast in the first 200. WHy? actually two reasons:
1) he has the speed to do so...but that doesn't mean he should. i would rather see him use that speed at the end
2) his coach always tells him to get out fast
there is generally only one big mistake is mid/distance running = going out too fast
can you go out too slow, maybe but it won't kill the rest out your race like going out too fast does.
in fact some of the best racers look like they go out too slow (but if you look at their actual splits (Dave Wottle Olympic race is perfect example) he is in last place at 200 and even gapped. but his splits don't show that. because everyone else goes out soo fast, it looks like he is making up time but in fact he is slowing down like everyone else but just not as much.
now don't get me wrong you can run the 800 from the front, middle or back as that 72 Oly 800 shows - look at the top 3 finishers who are within tenths of a second. they each ran with a different style (one took the lead, one ran on his shoulder, and the other was in dead last).
it is all about execution of the race plan, and how you train for your racing style.
When i advise you to go out slower, i am not saying go out slow. I am saying don't sprint the first 200 or 400. Or if you can't help it (due to nerves or habit) just stop sprinting after the first 150 and simply start cruising. It is like driving fast without pushing the pedal down....you already have the speed/momentum so now just take your foot off the gas at 150m and coast...let the pack catch you and pull you along.
1st 200 - try going just a little slower (sometime just easing up .5 - 1.5 seconds is enough)
for someone running 2:12 goal time - you should not be at or below 30. Maybe 31-32.
2nd 200 - since everyone else goes out blazing you should be getting passed during the first part of this 200 by those who did not take their foot off the gas (actually this getting passed or caught should start happening around 150 meter to 250 meters) somewhere around the top of the curve and 300 meter mark they should stop moving away from you and you should be able to hold your position as they have slowed back to your pace. from 300-400 hold your spot and cruise the the 400. Hopefully you'll be around 64-65...but 63 is okay and 66 is okay. one is a little on the fast side and one is a little on the slow side for a 2:12 goal. A more speed oriented runner will be closer to 63 and a more distance/endurance based runners will be closer to 66.
the 3rd 200 is critical that you don't know start running everyone else's pace. since they have likely gone too fast early on - they should be slowing down on this 200, you should not. Since you took your foot off the gas, you want to try to maintain the speed of your 2nd 200. and should be gradually passing people.
4th 200 - if you did the 3rd 200 right, you should enter the final 200 with momentum of passing some people and try to open it up and kick the last 200.
what most do vs what you should do
1st 200 = 30 31.5
2nd 200 = 34 33
3rd 200 = 35 33
4th 200 = 33 31.5
so bad split would be 64,68 and better is 64-65 and 64-65