Threshold running is, as you probably know, the single best way to
improve your aerobic fitness. Basically, you get "the best bang for your
buck" during a threshold run, as you need to run at your threshold for
only a few miles to gain fitness. I make sure that the athletes I work
with are running at least one workout per week that is some version of a
threshold workout.
As important as threshold runs are, I encourage you not to become
addicted to wearing a heart rate monitor during one. Why? Because your
heart rate can vary from day to day, depending on fatigue, temperature,
and even hydration level. I was reminded of this when two athletes I
work with ran a threshold run together and the two runners had vastly
different heart rate values at the end of the workout. However, as I
observed them throughout the run (as I was on a bike), they were both
running controlled and at a true threshold effort. Their perception of
the effort was much more important than the heart rate value. So make
sure you do your threshold workouts, but don't obsess over your heart
rate; rather, use those values as a guide.