i can see this workin in a certain, not-so-unlikely situation though. if you're TEC, and they're advent, (goin off the starcraft, like zerg v protoss) they dont get illums till 3 mil labs, and most people wont have 3 mil labs 5 or 10 mins or so into the game.
the way i would do it is build a 2nd frigate factory, crystal extractor, metal extractorx2, build a few scouts and get them scouting, build a mil lab, start pumpin cobalts, research fleet supply, continue pumpin cobalts, get about 20-40 depending on map size, go for his hw which i should have found by now, destroy any ships in the grav well except caps, kill his frigate factory, kill his capship and fleet if it returns, and while the attack is on throw down a 2nd mil lab, research krosovs, spam krosovs like hell (i mean like hell, so that you're bombing damage is pretty massive), but you only build the krosovs if you know you're gonna have a fair chance at bombing his HW down.
if you do it right, i would predict the other player would surrender once you took his frigate factory and capship out.
i might be wrong though, so please point out any flaws