I've tried it somewhat; breaking guitars in, that is, being impatient and wanting my new legra to be all it can be.
First, figuring that its best to set up vibrational modes that are
A: Notes and there overtones
B: between the nut and bridge, rather than randomly pumped into the guitar (as the location of the vibration matters to how anything oscilates; wheres nodal and antinodal)
I used a drill with a bit of carboard to hit the strings, not as hard as I normally do, for a few hours. It opened out in the lows and mids. Then I realised I didnt know if it was the strings or the guitar that was changing, so I switched to pink noise, high pass @ 100Hz low @2k, about 2cm from the rim of a B&W DM602 (so, it can move air, but its nothing major) and ~100db at that distance, aimed at the back of the guitar hanging by its neck. More or less the same effect from that as the drill, but it took over 20 hours.
Dont know how much play time its equivelent to, but I'm a believer in the principle (even if I only have anecdotal evidence to offer).