I calculate this number after each run as it gives a value that combines pace with heart rate. Slow runs take longer with lower heart rates. Fast runs are quicker but with higher heart rates. There is a point somewhere in the middle where you are running at your most efficient but there is no way to see the number in real time without displaying 'heart beats per mile/km'
Having this number display in real time during a run would allow you to monitor and tweak your running speed and form to find your peak efficiency. It would be similar to a MPG read out on your car.
It also allows you to compare the performance of slow and fast workouts with a common number. Please add it.
phil
LA Marathon 2014 = 2:58:23 (broke 3:00 at last)