The coach is Joe Welsh (St. Ives in Cambridgeshire) who coaches, or at least used to coach, Neil Speaight.
I do think it's of some value for long slow runs and I still use it. But again, we have the same problem if a) we really don't know what our Max HR is and b) whatever our current Max HR is is not what it can be with the right type of training. I think you'd have to do a VO2 Max test three times a year to really train on heartrate accurately. I don't know what my Max HR is anymore. I'm 40 years old and my HR hit 187 on a tough tempo run in the blistering heat of the United Arab Emirates last summer, so I think my max HR is somewhere between 190-194.
What I don't do anymore on long runs is limit myself to 65%-75% of HR Max. I'll use the HRM to keep it easy on the first half, but then I'll pick it up to Marathon pace for most of the 2nd half of the run and not worry about being in "zone 2" or any of that stuff.
I must admit I bought into heart rate training hook, line and sinker a few years ago. The problem is, there's so much contradictory science (and in some cases pseudo-science) flying around out there that's it impossible for someone with a medical background to sort through it all nevermind a layman like me.
I just try to keep it simple and ensure I work at least speed, LT, endurance, and strength once a week.