To me, MVP goes to the best player on one of the top teams that season who has done the most with the least help compared to the other guys being considered.
I think Moses Malone was the last player to win the MVP award in which his team wasn't one of the top 4-5 teams in the league.. and his team was 6th I think. [I checked this a while ago, may be wrong.]
But playing with less talent DOES help you win the MVP. In 2001-2002, Duncan won the MVP when the Spurs finished 58-24. The Lakers also finished 58-24 and The Kings won 61.
Duncan averaged 25/12.7 while shooting 51%. Shaq averaged 27/10.7 while shooting 58%. So why did Duncan win it over Shaq if they won the same amount of wins and shaq put up the same, or slightly better numbers? Because Shaq was playing with Kobe who was averaging 25/5.5/5.5 while the spurs second leading scorer was Robinson with 12.2 a game.
But you also have guys like Nash who won the MVP even though he had a lot of talent around him, and his numbers weren't as good as some other players.
Then you have teams like the 04 Pacers who won 61 games.. but had no one that REALLY stood out over anyone else in the running for MVP. Their best player was J O'neal who averaged 20/10 but shot 43%. Even though KG's team won 3 less, his numbers [24/14/5] were CLEARLY better than O'neal's.
Then there's years when you have your obvious MVP, like when LBJ won it.
I think there's a lot that gets factored in when voting for MVP.