Race

[Don Dulmage <big-d@xxxxxxxxxxxx>]

I do not make much distinction between race and street except idle quality and reliability.
I use Synthetic Auto trans fluid on the street too.
Re other question. I am a professional mech , machinist. (Class A Ontario with interprovincial seal) I also have qualified in the past for the US ASE Master Tech Certification and the ASE Master Automotive Machinist Certification. I no longer renew these as i didn't need them to work here as we have our own Certification and i am retired (sort of). Taught Provincial Trade School for several years under a contract and specialized in Engine, Electrical and Fuels.
Re breakin
Here is what i recommend as do most engine shops. 
Start it up and warm it up. Do not let it idle for at least 20 minutes((1800 to 2500) 
Check for water leaks , overheating  oil pressure etc. If all is well or when all is well, Shut it off. Change oil and filter while still hot and refill with the oil you intend to use and now for the most important part. PLEASE DRIVE IT NORMAL!
Do not baby it etc. Drive it like it was 10 years old. Feel free to use passing gear  and everything . 
Oil burners are sometimes the result of exotic breakin procedures. Years and years ago when bearings were hand scraped and machining was poor engines had to wear themselves in and gentle driving was called for as the rings slowly seated into the not so round walls and the high spots wore themselves down on the bearings . In these days of precision machining and precision bearings and precision cranks etc etc these old proceedures do not work well and the rings end up not seating well and sometimes oil burning results. 
What do i do with my own? Glad you asked ,o friend of mine. I do the check as above , change the oi., and filter , set it up the way i want and I go out and pound the "hoele " (ask von Hench) out of it , because that it what i built it for! It aint for gettin groceries or goin to church, its for tire smokin chev eatin cruise night drivin FUN!!!
The motors seem to love it as well. They never complain.
When we teach this in Engine theory classes as this subject always comes up. We say engines don't wear in , they WEAR OUT. We first heard this at a TRW engine clinic. If it is fitted right and put together clean then it will last. If not no amount of babying will help it. Eventually it will die.
Don  

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b7yoMz.