I've seen pretty convincing evidence that taking a lot of time to break the engine in isn't really necessary. If I remember right, there's a pretty reputable engine builder who claims that as long as you give the bike plenty of time to warm up before you ride it, you can pretty much rip on it right off the bat. There's a link to his case on not actually breaking the engine in somewhere on BansheeHQ, but I don't have it handy at the moment.
If you don't really trust that method, I think the most common way to do it is to let the bike idle for about 20-30 minutes, or until the cylinders feel hot to the touch, then shut it down, retorque the head, and repeat about 3 times, then ride it fairly easy for the first full tank of gas.
I've heard compelling cases for both methods, and I've heard of bikes going sky-high not long after both methods were employed. I'll see if I can find that link that I mentioned above, and if I do, I'll post it.