That's one of the problems with the Mile.
Sub-4 ain't it anymore. The guys have to look at running 3:50 for a mile like years ago runners looked at running sub-4.
The Oly A is 3:35.50 which is equal to 3:51.23 for 1 Mile.
This is the formula I learned from T&F News Magazine.
1500 time x 1.073.
1Mile time x .932.