http://www.runnersworld.com/sweat-science/can-your-watch-estimate-your-vo2-max?utm_source=t.co&utm_medium=social&utm_campaign=sharebutton
As commented in this forum, based on this study the Garmin VO2Max is overestimated.
It is interesting to see the hr strap is still more accurate than the inbuilt hr for VO2Max results.
Now we know why those predicted times sometimes seem unrealistic.