Ok...I've done Tabata intervals. I have done sets of 8. Yeah they are tough. However, how on earth can they be better, or even close to better, than 5X 5 VO2 traditional VO2 max intervals. I am talking about improvements in VO2 max here. I'll tell you what, I'd do Tabata's any day over 5 X 5 or 3 X 7 or any other combo of traditional VO2's. Why, because they are easier. That's my opinion and yes I did the Tabata's absolutely balls out. In my opinion there is nothing tougher than 5 X 5 on the trainer.
Also, in the Tabata study the dudes only started with about a 50 VO2 max...hardly trained athletes in my opinion. Surely the fact that the people in the study were not that well trained has something to do with the success of the Tabata's.
Boy. I'd like to hear from Dr. Coggan on this one.
I have not done tabata intervals, so I cannot really speak to their pros/cons. However, my reason for not doing them is that my coaches are advocates of traditional VO2 intervals, and I do what they say since it seems to be working :-)