This is attractive to me for several reasons. First, while I don't generally pursue a "lazier is better" philosophy, it isn't always a bad idea to simplify.

I'm an Egyptologist in training, and have the expected fascination with all things ancient. The latest reconstructions of the Egyptian brewing process indicate a two-part method with some similarities to this "lazy way." Malted barley or wheat was ground and boiled; meanwhile another portion of malted wheat was mixed with cool water and left to sit while the wort boiled. Then both were mixed together, sieved, and the result allowed to ferment. Obviously the "lazy method" isn't exactly the same -- and I dare say modern beers are much improved over the rather soupy mess the ancients drank -- but the similarity is enough to make me smile. A happy brewer makes better beer, right?

So, has anyone here tried this method of mashing? Is it a workable idea? Or are there reasons to shun it? That's what I'm most concerned about. If it turns out there is a fatal flaw with this method, one which my inexperienced eye cannot spot, I'd much rather learn about it before I ruin some beer.