Ok, one last point I'd like to make to clarify the 'plane will take off' side:
Just because the conveyor belt is moving backwards at the same speed of the plane moving forward does NOT mean that the plane will be 'pushed backwards' at the same speed. (stopped).
Think of it this way: A block is on a conveyor belt and you and a friend stand on either side of the belt (not on it) with straps tied to the block. You pull on the straps and move the block forward. As you do this, the conveyor belt activates at the same speed you move forward. As you push the block forward, the belt moves to counteract your movement. However, the force that you and your friend exert on the block overcome the static friction and the brick slides across the belt and moves forward but the block does not move as fast because of the forces exerted by friction. At this point, once the static friction has been overcome, the kinetic friction takes over and kinetic friction is always less than static friction (ie. once the block begins to move along the belt, it is easier to move it than when it was not in motion (relative to the belt)). Thus the block moves forward and you and your friend can pull it all you like.
Now replace the block with a set of wheels with extended axles so you and your friend can grip the bars off the belt.
You push the axle and the belt begins to move at your exact speed backwards. Because the wheel will rotate, you can move it much easier than the block. All that happens to the wheel when you push it forward is that it rotates twice as fast (you pushing it forward and the conveyor rotates it backwards). The two sources of friction will be the friction in the bearings of the axle and the friction between the wheels and the ground to keep the tires from 'rolling with slip'.
EDIT ADD: With that in mind, you and your friend can easily pull the tire forward and with forward motion comes air moving over wings, and thus liftoff.
Thus, unless the friction in the bearings of the tires is astronomically higher than normal bearings, the tires will rotate with ease and the plane will take off with little to no delay as compared to a non-tread-milled airplane.
[This message has been edited by Predmid (edited 10/26/2007 1:45p).]
[This message has been edited by Predmid (edited 10/26/2007 1:48p).]