One thing I wanted to note is that in general I was led to believe that squeezing the bag was a no-no as you tend to increase the tannins from the grains when you squeeze the bag...
When your brother-in-law casually mentions to some friends and family at dinner out while we're trying to figure out which craft beer the restaurant has on tap, that the best beer he's ever tasted came in a bottle. When asked which one it was, he points at you and says; "It was one of his".
One other thing to consider is that as a beer ages (assuming you're bottle conditioning and not force carbonating) is that the yeast will continue to scavenge off flavors in the beer and will continue to bring the gravity down as low as it can go. I once made a very high gravity (1.108 OG)...
That's quite a blanket statement though. I mean, there are plenty of different yeasts that love a good warm fermentation. A lot of Belgian yeasts for example thrive and produce wonderful aromas in that 70-72 temperature range. Some can even handle as much as 80-86F.
It actually doesn't work quite as well as you would think. There's no movement, so while it is quite cold, there isn't a lot of heat exchange going on. I've found it's still easier to chill my wort with an immersion chiller and tap water.
I bought my pots at an East Indian food store... they have huge pots for cheap. I think I paid > $40 for my 16L pots. I don't do full boils though, just partial mashes.