no. not correct. at speeds in excess of your anaerobic threshold the limiting factors are muscle biology (fast twitch / slow twitch), muscle recruitment, capillary density, haemoglobin levels, enzyme activity. at these speeds it is primarily about force development and efficiency of motion. lactate is not insignificant, but far from being of primary importance, at these speeds.
no. not correct. (a more usual figure is 4 mmol) discussions of this topic tend to get very confused because there are two lactate thresholds and they each have several names.
1) there is lactate in your blood all the time. even when you are asleep. when you start to exercise, there is a point at which lactate starts to accumulate in the blood at higher than background levels. this is called onset of blood lactate accumulation, or it is also called the aerobic threshold (AT). the running velocity at which this occurs is what many runners refer to as Tempo pace.
2) there is assumed to be a point at which lactate accumulation in the blood achieves a maximum. work by the French physiologist Veronique Billat suggests that it goes up to a level, then as exercise intensity increases the level drops slightly before going higher without having been observed to achieve an actual maximum. however, most people in the field refer to this first level before the drop as the maximum and most runners and coaches when they talk about a maximum are referring to this pre-drop level. this point is the anaerobic thereshold (ANT), it is also called the maximum lactate steady state.
the difference between these two thresholds is known as your aerobic difference (AD). below AT you are running 100% aerobically. in the AD you are running somewhat aerobically but as speed increases the proportion of anaerobic effort increases until you reach ANT where you are running 100% anaerobically. therefore, the point of your training is to do three things: move AT as high as you can. make AD as wide as you can. make ANT as high as you can.
if you move AT higher, you are, essentially, increasing the speed you can run without accumulating lactate. the lactate itself is not the point, lactate is only used as a marker for the point at which you start to exercise anaerobically. the real point is the proportion of your effort that is aerobic at this level.
as you widen your AD, you increase the speed at which you are running anaerobically. again, the lactate itself is not the point. lactate is just a marker we can measure to determine where the point lies. the point is that at that speed you are 100% anaerobic, so you want to defer that point as long as you can.
it's called fatigue. physiologists have studied this for the last fifty years or so and the following appear to be true statements about the current knowledge of fatigue:
1) although many factors that might contribute to it have been identified, no one knows what causes fatigue. there are, essentially, three main candidates and the answer will undoubtedly be a combination of one or more of:
a) it is caused by levels of some as yet undetermined chemical substance or compound.
b) it is caused by a physical limitation to the function of muscles.
c) it is caused by a mental or psychological limit of some kind.
2) since no one knows what causes it, attempts to define it have boiled down to, "a sudden inability to do that which was recently possible."
3) training tends to defer the point at which fatigue occurs, but cannot eliminate it entirely. even highly trained athletes suffer from fatigue, eventually. there is enough fat in a runner to fuel his effort for approximately two days but he will suffer fatigue long before then.
Cheers.