I know, funny guy. Isn't that why I said "IT DEPENDS" on who is doing them and what shape they are in, and a HOST of other factors??? And what are you looking for exactly, a discussion of fast-twitch & slow-twitch muscle fibers activation, mitochondrial development, and heart and lung actions??? Well, I will leave that to the scientists.
But I ALREADY said: one is more about speed/power, and likely more anerobic (but again, it depends), and one is likely more aerobic, and a better endurance-builder. But a fast 400/800 runner could do the 62 second repeats in his sleep, and for awhile, while a marathoner with 0 pure speed would likely crash quickly on the session, and handle the slower repeat session better.
Anyway, for 1500 runners to marathoners, I say the bottom line is:
BOTH are good sessions, one more about pure speed/power(and I would prefer in a later stage of training), one more about endurance(and one I would prefer earlier in the season). That is all I need to know to make them work for me.
When you a run a workout, you ALWAYS sacrifice something (in order to gain something else):
harder runs sacrifice post-workout recovery and sometimes volume (for intensity)
Aerobic runs sacrifice Anerobic ability/buffering ability of high amounts of lactic acid(for aerobic development of lots of volume)
Anerobic runs sacrifice aerobic development and recovery and sometimes volume (for intensity and anerobic development)
steady runs sacrifice pace/speed (for consistency, ie, no breaks/slow parts)
fartlek/interval training sacrifice consistency of pace (for faster/quality portions of running)
faster-paced repeats sacrifice either speed/time of recovery interval or volume of repeats (for faster quality work)
slower-paced repeats sacrifice faster-paced running (for faster/shorter recovery periods)
etc, etc
No one workout has it all, and that is why they all have value. So choose your poison/medicine wisely. But when choosing the majority of your workouts, always keep in mind that of course a high volume of aerobic development is key to all endurance races (but leg speed/power is also important, though it is likely secondary, and again, depends on the event. But that is why I like Igloi-style workouts[his LESS intense ones] best: they allow HIGH volume of running and aerobic development, but also LOTS of speed and some small doses of anerobic development. But they, like all workouts must sacrifice something, and they sacrifice consistency of pace: there are lots of short rest intervals between the short fast repeats. And as far as "float" recoveries vs non-float recoveries, Schul almost always WALKED his recoveries. So take that for what it is worth)