Traditionally, engines needed a break in because parts could not be manufactured to very tight tolerances. Because of this, the rings the seal the pistons actually had to grind on the piston walls as the seated to ensure proper wear.
The break in period was to keep people from running hard ALL the time and creating uneven wear and therefore causing gas and oil to blow by the rings. Ironically, if you ever research break-in, most racing builders run hard acceleration pulls (basically like a dyno test) as the high heat does help wear evenly. The big issue is that this can only be done for say 3 or 4 pulls, then the engine has to cool completely.
I still think it's best to vary the engine speeds for the first 1000 or so miles/kms, as running at a consistent speed doesn't develop enough heat to wear rings properly. Fortunately, modern manufacturing can make parts with suck tight tolerances that wear in is basically non-existent.
Brakes on the other hand should be used hard at first, again due to a wear/break in issue. It's the same type of idea as engine break in in that the brake pads need to 'form' to the rotor surface.
Another thing that nobody ever tells you is that new tires require about 500 miles too break in. Special coatings are used to keep the rubber from sticking to the tire mold. I can attest to this as out 5 has snows on after about 2 weeks and the OEM tires were a bit squirrely when I put them on come spring!
http://www.tirerack.com/tires-techpage-1/5.shtml