Yes, testing the engine on a stand is a great thing as you can easily check for leaks, and then once run-in enough, re-torque the head and adjust the valves. Once it is in the car, you have then removed an infinite amount of variables. And if you do run across issues, they are easily fixed on the stand.
An engine test stand used for the purpose of breaking in, does not have to be fancy and can be made from wood. Just make it robust enough.