Yes! The central governor model and the aerobic/anaerobic model are not mutually exclusive. Noakes merely suggests that Daniels' model is insufficient for describing performance limitations.
I think that taking advantage of the theory comes down to simulating race effort. Racing early and often is good training because it prepares your mind, leading to reduced perceived exertion and higher comfort levels. This is especially important in middle distance, because energy systems training does not generally require much time spent at mile pace. If anyone has ever jumped into a mile race during cross season, you know the feeling. It's more than just a lack of "mile fitness;" it's an almost frightening feeling, like driving a car without brakes.
Fast-finish workouts are also very useful, because they give you a sample of late race effort levels. If you don't fast finish a mile repeat workout, you're never approaching the feeling that you will have in the late stages of a race. This can lead to panic and inefficiency when you do hit that effort level.
Personally, I think that the central governor model is brilliant. I believe that much of the ridicule it receives is due to a fundamental misunderstanding of the model. Don't think of the governor as this guy who is pulling invisible strings, stopping you from working hard. Think of the governor as your limbic system. It's all of those primitive feelings that you experience when working hard like fear, panic, pain, and despair.
If you don't think that the governor can be trained, just think back about your first race of the season, after you've put in a huge base. You probably run pretty slow, but you feel fine afterward, because you're fit and you have to relearn how to go to the edge. You see the same thing with young runners. For kids, much of distance running is about learning how much you can hurt. When I was in 9th grade, I pr'ed in the 800 by 50 seconds! Obviously I didn't get fitter; I learned that I could do much more than I thought. In my second cross country ski race, I was in last place through 8k, but I did the last 4k faster than the entire field.
I do believe that the central governor has limitations. Supposedly, it exists to protect the organism from damage. I suspect that it is most important in middle distance and distance races. In the 800 and 400, it seems like you are running up against raw physical limitations, which make sense, since it would be hard to dangerously overwork the organism in such a short period of time. On the other side, in ultra distances, it seems as though the central governor can be tricked. Perhaps the slow-bleed of marathons and longer races allow people to run past their limitations, which is why you see internal organs becoming distressed in these races.