Keegan got the best out of Owen by giving him a free role in midfield, hope Shearer doesn't do the same because it wont work without Viduka.
If Owen HAS to start, he should be played up front alongside Oba and nobody else. If he plays Owen alongside Carroll or Shola we'll go down and perhaps even finish bottom
Based on..........
Owen being behind the strikers = more space for him, simple as that. Helpful when you have a big lad to hold it up for you, but both Lovenkrands & Martins are good enough at moving with the ball to be able to find owen in space themselves.
Based on observation really - those (very) few games where the much vaunted 4-3-3 was used involved Viduka holding up the ball with back to goal, Martins coming in from out wide and Owen linking midfield and attack.
Discounting Viduka, the only way such a system could be employed this season would be with Stroller, Carroll or even Smith as the "target" man - in which case the lack of quality would see the ball exiting the final third faster than it arrived (and considering it would likely be lumped forward from the back, that's pretty fast!)
4-4-2 is much more appropriate given the resources available to Shearer - I hesitate to anticipate his team, but I would expect Owen-Martins or, disturbingly Owen-Ameobi, and probably Duff and Jonas on the wing.
Personally, I think the best (only good?) thing Houghton ever did was "drop" Owen for the Arsenal game...