Back over 25 years ago when I started extrac brewing, I used to boil the malt with hop additions in my fermenter with over the side immersion heater , bucket of death, used to get soft and all sorts of things, crazy stuff looking back now, then after the boil, id seal the top with sanitised lid with airlock and leave to cool down over the next 24 hrs. So sort of a ghetto no-chill setup. Then pitch yeast next day. Sometimes even a few days down the track if I was lazy or work commitments.
Beers turned out good, well must of as back then friends etc wanted them at weddings and engagements etc.
Fast forward, principle is same, although we tend to boil in stainless lol, prob got somesort of mass plastic poisoning going on back then lol.
I adjust my bittering additions down 25% for no chill. Sub 10 min additions straight into cube unless I'm storing the cube more than a week due to possible grassy hop breakdown.
I also have found that cooling the cube in my pool has resulted in a smoother beer than slow cool. Not much but, as I double batch, Ive done some experiments with one cube into pool after 4 mins the other slow cool over 24 hrs. Pool cube on every batch, 5 from memory have been same but smoother.
Just my Ghetto science experiments .