There is a place for lactic capacity for sure but you'll top out after 3-4 weeks of it meaning you only need to do it at the back end of pre season prior practice games
That being said if you're still slow then why make yourself slower with fatigue work and if your aerobic capacity is poor then the recovery between those 400's probably won't be enough in 3mins and thus each subsequent set is going to be far slower then if recovery was better
Now think in game terms when you're running at that speed and how often you'd get the ball...never...plus you just won't run like that in a local/amateur footy game
I'd say doing 15s/15s at 120% of MAS isn't really lactic capacity work, it's more aerobic work, trying to maximise time spent above 100% MAS. Lactic capacity would be more like working at an all out pace with a 1:2+ W:R ratio, such as 30s Sprint, 90s off, or even 15s/30s based on some of Joel Jamiesons stuff. 400's on 3 minutes wouldn't be too bad for most decent level amateur players, who should be able to do that in 1.30 or less, and stay relatively consistent with it at a 1:1ish W:R.
I think long slow runs have a place, especially in the beginning of the off-season from a regeneration point of view, but if you're looking for the best bang for your buck then high intensity aerobic conditioning will be the way to go for football players, with a wide range of distances used (whether you train long to short or short to long is another issue, interested in your take on this as well).
Speed work is a difficult one, as it's a pretty technical thing, and while I think all players should definitely make sure they're doing sprints so they dont become 'slower', I'm not sure too many amateur athletes will be able to make themselves significantly faster with speed training.
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