It's best if you can insulate the wort so it doesn't lose too much heat in that time period. You don't want it to drop into incubation temps for anything that will make you sick or significantly alter your flavor profile (e.g. botulinum for the former or lacto for the latter).
I'm another who has done 8-12 hour mashes and had good success with them, but I keep a thick winter jacket on the kettle and the mash temp never drops down into the danger zone. If you're going to sparge and all that and just leave the wort overnight, I'd suggest heating it up to something like 170-180 and insulating the kettle as well as you can. Leaving the grain in the wort has the benefit of increasing your thermal mass so the temp drop is slower, but I'm guessing you're pressed for time and don't want to go through the whole process of collecting the wort on day 2, or else you'd probably just be planning for a long mash anyway.