I think that the psychological component of this "burn in" business is far greater than any physical alteration to the equipment.
This is similar to my view on cable differences, which is that while there might be differences between cables the auto-suggestion involved in very much greater.
At present I have had a pair of AKG K702 headphones for about two weeks. I am "burning them in" by leaving them plugged into a radio overnight.
I just listen to them normally each day when I want to listen to music.
So, I remember on day 1 when I first listened to them without any "burn in" that they sounded awful.
Each day I listen to them, they sound better.
Surely a classic "burn in" story, the "golden ears" will say absolute proof of "burn in"!
But there is more...
Yesterday I went to listen to my AKG K702s when I wasn't really feeling like listening to music. I was just trying to work out something complicated to do with my current work and I thought it might be good to be away from my computer for a bit.
The headphones sounded awful again. In fact they sounded just like they did on day 1 without any burn in.
This time I was very conscious of this because it is, in fact, a long time since I bought something new for hi fi, I tend to get things second-hand.
I think new audio equipment sounds awful on day 1 primarily because you are discombobulated by it. The newness is a distraction from any decent listening. As you become more relaxed with the stuff you start to hear what it can actually do.
I would go further and suggest that maybe the reason why people say that the AKG K702s take a long time to "burn in" is that they are actually very good
People just aren't used to hi fi that good at such a low price. They are initially discombobulated by it, however over time they start more and more to really see what happens with essentially neutral equipment.