Colloidal graphite was popular for running in engines after a rebore, since it reduced friction, and the likelihood of scuffing.
This was in the days of cylinders being bored, full stop.
Homing and plateau honing has been in use for years and reduced the need for running in, and improved oil control.
It has reached such a fine art that an engine already filled with hot water and oil can be run at Full Load Rated Speed for a power check within a few minutes of start up. What a contrast to taking eight hours to run in and test an engine!
Might be beneficial as an additive to a gearbox, (As well as the specified SAE 80 or whatever ) to reduce friction.
Howard