I'm with Tim. I use two small freezers to ferment two buckets each. I have dual stage temp controllers with the probe in the air in the freezer. If I were to stick a 80º bucket in there and tape the probe to it the temp in the freezer would go to minus 20º until the bucket reached 68º, running constantly and the mechanics getting pretty toasty in my 90º garage. Plus, the other bucket went in at, say 76º....so where does that end up when the thing finally shuts down?
Nope, everything nice and easy, probe in the air set at 66º and both buckets gently get there in about 8-12 hours, while the freezer mechanicals get to work, rest work, rest........
As far as the exothermal characteristics of fermentation, yes, that happens. So, I start at 66º and when the initial fermentation slows, I'll turn it up to 68º........
For completion's sake, the process is different in winter than summer. In winter I can get the wort down below 70º no problem and pitch right away. But in summer the barn is 90º after the burners run all day and I now place the yeast from the fridge in the fermenteezer to WARM to 66-68º and then the buckets, which I get down to about 80º with the chiller coil......then 8-10 hours later when all is equalized I pitch.....