This was an interesting point at Irv's Jan. clinic and we're seeing the results of it now.
Events that are largely based in VO2Max are going to be 7-12min in duration. America is great in producing runners up to 400m (where VO2Max has a minimal role) and is actually not half bad at 10000m and the marathon (several mid 27 guys, as well a lots of A standard and under runners). It's events that are intense in VO2 max: 800/1500/3000/5000 where America is decades behind the competition. Any thoughts why? In this discussion, Keflezighi and Geb were compared:
Meb:
400m 53
800m 1:53
1500m 3:42.2
3000m 7:48.8
5000m 13:11.7
10000m 27:13.9
Marathon 2:10:03
Geb:
400m 49
800m 1:46 (in practice)
1500m 3:31.7i
3000m 7:25.0
5000m 12:39.3
10000m 26:22.7
Marathon 2:06:35
Geb/Meb
400m 92%
800m 93%
1500m 95%
3000m 94.9%
5000m 95.9%
10000m 96.8%
Marathon 97.3%
So, the farther Meb moves from VO2 Max, the closer (in terms of percentage) his times come to Geb's. If he was able to maintain that 96.8% (using this because I feel that both these runners have run very close to their lifetime potential at 10k, while I'm sure Geb will destroy his marathon PB at London next April) we'd see Meb run 3:38.7, 7:39.7, and 13:04 for 5000m. Now, that may be as good as Meb can do given his 400m speed, but dropping his PB to 13:04 would certainly give him the ability to run sub27 and taking that to the marathon he'd be a force (not that he can't be now, but Evans Rutto has a 10k PB of 27:20 I think).
So -- why do you think VO2Max is so undeveloped? My guess is that coaches oftentimes only do VO2 work as specific times of the year, when it should be year round. That's not to say that you're trying to peak or kill your athletes in their base phases but you should never leave that energy system (or any for that matter) unattended to. This is, of course, in the context of of program where volume is up, and all the other training principals are being addressed.
I'm interested to hear your thoughts.