A guy named Peter Boegli posted this on a newsgroup a while back which may be of interest:
I recall having been to the Porsche Test Centre in Weissach some 25 years ago. There I saw them taking performance figures of _every_ new engine for the 911 on a number of test benches. That meant screaming 7000 RpM under full load and for about a minute. Compare that to what many manufacturers (including Porsche) ask you to do during the running-in period! I then asked one of the engineers about the discrepancy in attitude. This was his answer,
which seems to be general enough to be still valid today and for different brands of engines:
The main area of concern in a brand new engine is the cylinder walls, i.e. their initial roughness, which reduces the effective area of contact between piston and cylinder. As a consequence the thermal combustion energy (the part which is not transformed into mechanical energy) will not flow through piston --> cylinder wall --> water as efficiently as required. If you keep
the period of high power output short enough, i.e. a minute or so, no harm will be done, because you just accumulate the heat in the piston. It is imperative though to give the engine a longer period of light load and of low speed to cool down again. Because most car manufacturers feel that their customers would not stick to the "one minute max" rule and get carried away
chasing fully run-in Mercedes on the Autobahn they set up the restrictive running-in rules. After all they want to avoid warranty claims.
Lubrication is less of a problem, according to this engineer: The cylinder wall roughness is in fact good, because it collects more oil. Pressure lubricated bearings in general have no metal-to-metal contact once the oil reaches them with sufficient pressure. This again requires that the oil has reached operating temperature.
So this is what I did running-in a number of Lotus Twin Cam engines, up to now with no apparent defects: Always warm up the engine before going over 3000-4000 Rpm. This takes 5 Miles on a hot summer day to 12 Miles in winter. The water temperature gauge is a bad indicator, as the water heats up more rapidly than the oil. It's an oil thermometer that you need if you want to be sure. During the first 500 Miles use the car lightly, i.e. stay in lowish engine speed ranges for most of the time. A _burst_ of speed will not harm the engine, provided that it is short. During the following 500 Miles gradually extend the "bursts". E.g. accelerating through all gears up to -
well what's the speed limit in GB - seems fair enough to me. Then hold the speed and let the engine dissipate the heat. In general use the gearbox and use the engine, but don't get carried away demanding high stress levels for prolonged periods.