I've heard that about Salazar as well, although I just really cannot believe it.
This is sort of a silly question - it is stated as if this is some kind of agreed upon standard, but it is not something that I have ever really heard.
I do think :29 is adequate speed to run 4:40 though, for what it is worth. I am definitely an endurance guy, but always thought I had pretty good speed for a good D3 5k runner. At this more advanced point in my running career, I am guessing it would be really hard for me to break :28, although I should be able to break :29, and I am very confident that I could break 4:40.
Again, anecdotal evidence of one random guy's experience isn't really useful for purposes of establishing a rule of thumb, but I still think it is an adequate degree of speed (but you should be thinking about moving up to the longer distances over time).