Okay ... Got to try it out today on the German Pilsner batch. Changed it up a little for simplicity - really no need for the mash pipe modification, or a stainless steel sheet ... I just used a ratchet strap and it worked awesome!!!!
I feel I really got all I ever wanted by squeezing. Every time I would crank it down, I would get an extra 4-8 ounces of wort.
My bag looks like one of those Victorian ladies with the hourglass waist. And for the first time .... No sparge was needed. I got to my prescribed liquid volume without adding a drop of water.
Next time I will adjust my efficiency to hit my pre-boil target (came in a little low, nothing too serious). I will just add a little DME or Mauritius based, demorera sugar if I feel like. But thrilled by not feeling the need to sparge (and adding water for potential variables that are undesirable.