[vertrkr]

I'm seeing conflicting information both on this forum and the web. Some say to take it easy and vary the speed and rpms for the first few hundred. Others say that the rings won't seat well unless the engine is run at high load for the first 20 miles or so. So what is it, take it easy or run it hard in the beginning? And what's the consequence of not breaking it in properly (whatever properly turns out to be)?

You'll get conflicting answers where ever you ask except perhaps a room full of drivetrain engineers. When in doubt just follow the manual:

"Drive moderately during the first 300 miles. After the initial 60 miles, speeds up to 50 or 55 mph are desirable. While cruising, brief full-throttle acceleration within the limits of local traffic laws contributes to a good break-in. Wide-open throttle acceleration in low gear can be detrimental and should be avoided."