I used to do this all the time, ie
Day 1: mash
Day 2: mash out, sparge, boil and leave overnight to cool
Day 3: pour into fermentor and add yeast
The advantage, of course, is that you do not have to spend a whole day brewing.
I've a 1970's book here that I'm trying find (not the Dave Line book) that says something like:
An overnight mash, if anything, is better.
Of course, that was in the days when the preferred method of adding yeast was to float it on a piece of toast in the wort.