That is how I do mine. My drop is from the kettle sitting on a cooler, down to a fermenter sitting on a chair. Runs ok. I never timed it but probably 10 minutes. I use tap water and have to turn the flow down to keep it from cooling too much.
The last batch I did was an IPA and the pellet hops very nearly clogged the chiller. I tried the whirlpool method and managed to get a good flow until the volume got low, and the little bit left I just strained into the fermenter.
I have been using the racking cane and sanitizer method ever since I melted my autosiphon a few batches ago, but there is a cheap device that allows you suck a siphon and not infect your beer. Basically a T near the end of your hose with a clamp just ahead of where you suck. Once the siphon is started, pinch the clamp and prevent bacteria from entering your beer (not that it's likely with the T, but the clamp also prevents the wort from pouring out the wrong hose).
Be careful with this method and hot wort.