Here's an example of the standard briefing I used on a military 707-type airframe for over 14 years:
"This will be a left seat rolling TRT. Numbers are ... (review EPR settings, V speeds, etc. from the TOLD card to crosscheck bug settings). Copilot will call "80 knots," "V1," and "rotate." Prior to V1 if any of the pilots or flight engineer notices a rudder boost failure, fire, or engine malfunction which makes the aircraft unsafe for flight, call "Reject." I'll abort with BRAKES-MAXIMUM, THROTTLES-IDLE, SPEEDBRAKES-UP. For any other problem give a short, descriptive statement of the nature of the problem. Unless it's catastrophic, we'll plan to take it into the air and treat it as an airborne emergency. If we need to do an emergency return we'll fly the ILS RWY 17. Numbers for that approach are ... (review speeds and landing distances for the heavyweight approach). Our departure clearance today is ... (hdg, alt, etc.). Any questions?"
As a technique just prior to taking the active, I would restate V1 and rotate speeds to remind everybody what we were looking for as key speeds on the takeoff roll.
I offer this briefing because it differs in some significant ways from some of the previous examples. I'm not saying this is the best possible briefing, but it was what we used as a standard. Here are a few points about this format:
1. I don't want anybody calling "Reject" unless it is one of the big three--rudder boost failure, fire, or engine malfunction which makes the aircraft unsafe for flight. If I lose any of the big three, I have to stop prior to V1 because I likely can't continue the takeoff in the remaining runway.
2. If somebody does call "Reject," there are no if's and's or but's. It's time to execute the boldface immediately and stop the jet.
3. High speed aborts on big airplanes are very dangereous and you may injure more people with an abort and subsequent ground evacuation than you would by treating it as an airborne emergency and coming back to land at a lighter weight and maybe taxiing clear of the runway to a stand. If you are flying smaller airplanes, an abort at V1 may not be a big deal. Anything past 80 kts is a big deal in a heavy. Ground evacuation is probable. Melted fuse plugs and blown tires are a real possibility and danger to the pax.
4. "Short, descriptive statement" about other problems is usually advisory--pressurization, generator, "That's just the #1 EPR flag. Engine is good." It was my decision to abort based on airspeed and severity of the problem. Past 80 knots it really needed to be a big 3 item. Below that speed it's pretty easy to abort for almost anything. The previous poster who said that takeoff roll is no place to be making decisions has a partially valid point. The decisions need to be thought through on the ground long before you get into the left seat. Sim, chair fly, and discuss the possibilities. Make the decision BEFORE you step to the jet. Then it's just a matter of executing that decision of the situation presents itself.
5. There were other items which required an abort, according to the manual, such as a nosewheel tire failure. However, as the one with my hand on the tiller, I was the one in the best position to determine if I lost a tire and what to do about it.
6. Notice the wording "engine malfunction which makes the aircraft unsafe for flight." If I've lost all my oil, that engine's gonna quit. If I lost a gauge, that's nice to know as an advisory, so somebody doesn't get confused that it was an engine failure, but I'm obviously going to continue the takeoff.
7. "Unless it's catastrophic" gives me an option at any speed. As the PIC you're paid to make the big decisions. A 2 engine failure (e.g. birdstrike of geese) would require me to abort no matter what the speed, because there simply were not enough thrusties to get and stay airborne. Better to run off the end of the runway at 50 knots than crash a half mile off the end of the runway at 150!
8. Reviewing the Emergency Return plan is always a good idea. That's when you can talk about a takeoff alternate, if you need one. If you have to do a real ER, you can't afford to take time to read the approach for the first time. If you just briefed it, you can simply say, "As previously briefed. Reset bugs to ..."
9. This was all given in the chocks prior to engine start. I'm a big advocate of 1G, 0 knots briefings, when you can concentrate on what is being said. Briefing while taxiing can be distracting and has caused mishaps. You certainly don't want to be looking inside to check all your bugs while you are moving in heavy ground traffic.
So that's my 2 cents worth. It worked well for our operation. I realize airlines have different timing issues and policies that would negate some of what I've said here. I'm just putting it out here for you to consider, not as gospel.