Alley cropping with trees always seems like a win-win to me. You can't run a massive harvester though those fields, but you can certainly still mechanically harvest. You could do more than just one tree crop, too. The late emerging leaves of walnut remind me of the Kentucky coffeetree, which is super hardy, and I believe it fixes nitrogen, but it's an ice age relic so it's leaves come out late and drop early.
I'd be interested to learn more about harvesting 2 annuals intercropped. I'm assuming the alfalfa/perennial wheat example would just be mowed down for silage or something.