Cold 'Brew'?

[irons]

A friend recently turned me on to cold (room temperature) 'brewing' coffee. Anyone tried this? Tips, suggestions, etc? I'm going to try this in my press.

As I understand it the process works like this:

Coffee + room temperature water + 8-12 hours. Strain/filter/decant. Serve with a little milk if that's your thing. If you want it hot, add a little hot water.