I am getting the feeling that BTDTB4 isn't flying in a 121 environment, or may not be a pilot.
I think one of the points that he/she is missing is cost. Sure, a recurrent training program could go over every item and procedure that we *could* do. "OK, we did the left gen failure, I'll reset everything and we'll work on the right gen failure"
But an airline is trying to make money - at some point, at every airline, there is a cost/benefit analysis. I imagine Recurrent training is constantly evaluated to make sure we're getting the right training at the right time.
AQP is trying to focus our training - take it from the shotgun approach down to a sniper shot. ASAP, FOQA, LOSA and all that stuff help the training department focus on the items they think are important.