That is an interesting perpective I've never seen brought up before. I've had boats without them and now have one with 2 built in. I don't think I would want to go back to using a cooler as it takes up a lot of deck space but you do make some good arguements for doing it that way. I have a very large one in the back of the boat and a smaller one in front. Both are fed by an aerator that I can run constantly or on a timer. This pretty much takes care of the slime problem and keeping them alive. I have a net that I can dip most of the fish out with but sometimes those last 1 or 2 can be a bear and its a long reach down in that box. The front one I could use for live bait but never have. My biggest problem is the drain and feed is the same line. So I often get minnows clogging it up or at least did until I made a strainer out of a piece of PVC pipe. And yes maintenance can be a lot of problems. Like if I have to replace the pump I have to drain a 24 gal gas tank and remove it. That part is not fun. This should be an interesting thread.
Fair Winds and Following Seas
Bill H. PTC USN Ret
Chesapeake, Va