Bill,
I hope all goes well for the flying...
Lap times, like so many other rules of thumb, are - yes - arbitrary. However, they are the ones that most, or at least: many, top fliers use as a benchmark. There may be a connection, between our aging reflexes and laptime, that is as important as the airspeed.
On (nominal) 70' lines, which I hope means from center of abdomen to centerline of model, a 5.2 sec laptime means a certain MPH or fps airspeed. Many current top models may be designed (or tuned, or trimmed) to fly optimally at that airspeed - but most are almost clones of each other in the vital basic proportions. Ergo, if it is optimal for one, it should be d*** close for the others.
The model with which I was most consistently successful had a 6.3 to 6.5 sec laptime on (nominal) 70's. It crept around like one of Al Rabe's big "scaler's", but was consistent for me. I can be consistent with other setups, given practice. We all can.
HOWEVER, when the big guns are flying at ~5.2, the judges get the subliminal message that that's the way it should be. The guys flying that pace are established champions, after all. My 6.5 sec laps may not impress them as well because they take SOOO long.
The mixed blessing of the improvements in standardized judging standards over the past 33+ years... We say we're judging the flight, not the flier, but there is a subcurrent...
Don't misread that! The winningest guys have worked hard for, and fully deserve, their successes. One trace of the 'old days' may still linger with us: Back in the 1950's, if a "name" flier showed up, how HE flew was too often the standard by which all others were judged.
"A certain organization" has done much to level that off, and to make judging standards more even around the country. Judges remain, after all, individuals, susceptible to stray influences. That still needs work...