A lot of people wet their belts, but, I wouldn't bother. I'd just sit around at home and bend it back and forth, rolling it up a few times and whatnot -after a few days your belt will be good to go.
roll it up, put a towell over it and back over it repeatedly with ur car putting differernt creases in it all the way down the length. seriously.
Wear it as much as possible. It sounds like it may be a bit too big. I had trouble with mine after a lost a little bit around the middle and had to tighten it up more. The extra material is a bitch to get through the loop. I put the weight back on and it fits great!
I just put mine in the position I will wear it in and leave it in the car for a few days
dude- just wear it and sweat in it- only time will make the belt softer!