I knew you HRM die-hards would have some ideas!
I'm pretty sure my calculation is near enough accurate as I had a max heart rate test at the start of the year, it was 206. I've only reached this during races since.
When I started using the HRM I was expecting to find that I was running too fast (ie over 70%) some of the time, since that's what the book and everyone on the forum said would happen. In fact I was always running at about 65%. So my guess is that my running economy at that pace is very efficient. (I've changed my training radically to run at different efforts since then).
That's what I think is happening on my easy days; I'm still running at the same speed as I used to, but the same pace means a very low heart rate - 130-135. At the beginning of this year the same pace would average about 145. Are you sure that if you went out and stuck to the same relaxed pace you're not running at lower HR than you used to? Or put it another way, are you now running recovery runs faster (but at the same HR)?
Perhaps I am running when I should be resting, I thought maybe it was a normal pattern for the HR to reduce gradually as fitness improves. On my harder days it doesn't, but that's because I'm working at maintaining the effort I've decided to run at.
I do log my av heart rate for practically every run but as I've only got a basic HRM it's not that helpful for runs where the intensity varies as it only works out the average.
Your suggestion Martin, of leaving my HRM at home on easy days is probably a good one.
Thanks for the ideas.