I assume you mean the engine break in a manual tranmission car (AKA stick shift in the US). But that relies on your clutch, which is still a friction based mechanism. Admittedly if you're breaking you're probably going to change gear either way, but the amount of friction depends on the difference in revs between the two parts coming into contact, which is presumably going to be larger if you're using it to engine break. So it seems to me that you're reducing wear on your brake pad but just switching that to increase wear on your clutch - with similar effects on air quality.