I guess it has to be somewhat person and experience related. But for me 100% burn-in. I have been an audiophile for fifty years. I am sure I wondered for the first few years as I developed my listening skills. I have broken in dozens of components now and I have very good listening skills… no imagination or adjustment involved. I know exactly what I want and how the current sound differers from it, and if there is a small change.
For instance, over the last five or six years I broke in three identical copies of an Audio Research Reference 160s. It was hard not to hear the complex behavior of the change in sound on the first (typically they take 600 hours to break in). To my surprise the second went through exactly the same complex behavior. I couldn’t believe it… but the third did as well. Exactly the same sequence over the same timeframes. I also noticed a very small continuing improvement out to 1,000 hour befor no further change.