Many runners can get close to 100% (90-95%) of their potential through a threshold based approach. For a 5K runner, a very important thing to remember is that Lactate Threshold is a physiological state, not a specific pace. For instance, you could do longer reps (such as 1-2K) at your estimated lactate threshold Pace, but you could also perform threshold training using shorter reps at a faster pace (example: 16 x 400 @ 10k pace or slightly faster/30 sec walk rests). These shorter reps with short recoveries will be more 5K specific, while still physiologically being a lactate threshold session.
As other posters have said above, it's a good idea to get a bit of fast twitch stimulation with a few short fast hills or flat fast strides with longer recoveries. You don't need a ton of this, but a little bit should do you good.