Very interesting discuss here, I've joined the community because of this thread. Sorry if bump is not allowed

I'm Daniel from Spain and would like to add some thoughts.
First: LOL at latest reply... so HIIT is just an illusion?
From my experience, HIIT is a very nice way to lose fats while having fun. I was near to obese (5'9' tall and 210 pounds). Now i'm on the 175-ish and still cutting. Steady cardio seemed like a hateful training way. Very boring.
I purchased a spinning bike for home and performed some HIIT routine for beginners, basically 8-10seconds ubersprints (and I mean, true 100% allout) and then 50-52 seconds jogging at 60%. The numbers fit exact minutes so it would be easier to check times on the LCD. Of course setting the bike with some kind of intermediate/hard resistance.
After some time I managed to increase to 12seconds sprints and reduce jog/rest times to 18 seconds. IMHO the rest times are the key. Also I was very worried about my sprint times might be ridiculous, but I researched for long and found an article talking of short sprints being more "efficient" to improve your anaerobic capacities and increasing metabolic rate for further 48 hours. In other words, more amount of short sprints would be better than a shorter amount of long sprints.
Furthermore, it's kinda impossible to sustain a let's say 30 seconds * real 100% sprint*, unless your name is Usain Bolt
Now I have been out of training world because some issues but I'm starting again, now on real running. I suggest noobs and obese people to start with static bike or spinning bike but once you are average capable, the static bike won't be enough for keep improving IMO.