Remember you have to break in gears just like you break in an engine. I am voting opposite of the crowd so far. Worry about one break in at a time.
If this is a brand new motor that has never been fired up then this is what I did with my new motor.I set everything up so that the car fired immediately. primed oil,filled carb with gas,adjusted valves,ck oil, fill rad,set timing,new plugs,wires, etc. As soon as car fires, rev up to about 2200 rpm and ck for leaks, leave car running at this rpm till engine gets to proper running temp(190) and I let it run at 2200 for 25min.shut off and let cool down completely. ck all hoses and lines etc. Once it has cooled off refire and again rev to 2000 or more. let it run there for about 5 , then idle down and ck timing and adjust carb for air/fuel mixture,and ck timing again. (See post belowconcerning rearend)Take it out for a drive and drive at different speeds and rpms. watch your temps and have fun. I didn't rev past 5000 for thr first couple of days, then jumped to 6000 occasionally ,then put a final limit of 7000 and have fun. Now I drive it at any speed I want and no problemsSome might dissagree but I have done this way for 35yrs and have had no problems. You must rev up engine at first to avoid damaging cam.
I don't think it really matters. You should decide which way is easier on you time wise, labor and energy wise, and money wise.
Once you have done the engine thing ,I just put the rear of the car on jack stands so that the tires are not touching the ground, start car , and put it in forward gear and let run for about 1/2 hr in forward. then put trans in rev for 1/2 hr and now Way you go.
I'm with ratio411 on this one. You need to break in your engine first by loading the rings (after a few heat cycles). It will be hard to load them if you have that much gear if you want the engine to last a long time. Then you have to break in the rear end rear correctly.
I break in my engine like Daydreamer. The rear end is a little different. You are only supposed to make very short trips with it at first. You should also keep steady speeds, unlike breaking in the engine with constantly varying speeds/rpms. You want the rear to smooth all the parts out and stay cool. With the engine, you want to rough things up a bit and expect to heat up. Smooth out the engine, and your rings won't seat well or at all. This is all my opinion. I don't want to be the party pooper, just trying to help. Other opinions may vary, and most will surely come from much smarter men than I.