Even today, most biophysical spiking models are based on the H-H equations. What have computational neuroscientists learned from Hodgkin and Huxley? First, they chose the right model system.
(This concept and velocity equation came from the historic study of action potentials in the squid giant axon by Alan Hodgkin and Andrew Huxley in the 1940s-50s, partly at MBL.) However ...