This New York Times article explains why everything you know about lactic acid is wrong.
"Everyone who has even thought about exercising has heard the warnings about lactic acid. It builds up in your muscles. It is what makes your muscles burn. Its buildup is what makes your muscles tire and give out.
Coaches and personal trainers tell athletes and exercisers that they have to learn to work out at just below their "lactic threshold," that point of diminishing returns when lactic acid starts to accumulate. Some athletes even have blood tests to find their personal lactic thresholds.
But that, it turns out, is all wrong. Lactic acid is actually a fuel, not a caustic waste product. Muscles make it deliberately, producing it from glucose, and they burn it to obtain energy. The reason trained athletes can perform so hard and so long is because their intense training causes their muscles to adapt so they more readily and efficiently absorb lactic acid."