one last HRM topic

I pretty much get the idea that the VO2 test while helpful is not totally necesary.
I was wondering if this is sufficent. Now I realize that its not possible to get a 100
percent accuracy on the amount of calories you are burning but in lieu of getting a VO2 test done
can I just do the following?

Do the HRmax by age formula.
Mines is 188 and then just go out for a run and see how close 188 is to my actual HRmax.

I get the feeling that while I might not be able to get the exact number I would still get a pretty good
ball park figure at how many calories I am burning.

For example if I go for a run and at 170 I am pretty winded but still able to get out a few words then I know that
188 is probably correct.

Am I correct or am I totally wrong.