Sorry if I was confusing. I thought i was clear in talking about boiling wort, not grain.
I've never felt the need to full boil for extract brewing or partial mash. I just keep my wort gravity VERY low until the last 15 minutes of the boil when all extract goes in. In that last 15 minutes, yes, the wort gravity is high. But I haven't noticed off flavors nor carmelization problems. To be honest, on a couple recipes I intentionally carmelize/cook down a few quarts of the wort. I don't see these issues as being very risky behavior; not enough to warrant spending all that $$$ for a giant pot nor the extra time to do a full boil. If I was doing AG, that'd be different because 100% of grain extraction is in there and the full volume, or even over volume, of boil can only help the hop utilization and to protect the wort.