V02 max

Has anyone ever done one of these tests? It is pretty hard.
I have volunteered to do some Running testing for the Olympic Medical Institute (OMI) who are doing a series of tests for a new Polar watch, which is what I get at the end of the 8 weeks!
So they start with a series of tests, like an ECG, Coopers 12 min Run test and a Vo2 max. Then after 8 weeks of training 5 times a week, they repeat the tests again.

Basically this is what it is...

Fitness can be measured by the volume of oxygen you can consume while exercising at your maximum capacity. VO2 max is the maximum amount of oxygen in milliliters, one can use in one minute per kilogram of body weight. Those who are fit have higher VO2 max values and can exercise more intensely than those who are not as well conditioned. Numerous studies show that you can increase your VO2 max by working out at an intensity that raises your heart rate to between 65 and 85% of its maximum for at least 20 minutes three to five times a week.

So mine is 42 and I have no idea what that means apart from the fact that I am pretty fit.
My max heart rate is 182 and resting is 52.

So now I'm in training!

I have also set a goal to do a sub 50 min 10K at the end of the 8 weeks to keep me motivated and hopefully have a great result to show for the hard work.