I have boiled oak cubes to make a tea and used it to flavor a cheap Vino Italiano Chard as well as a cheap VI red. The only reason that I used tea was that the kits were cheap and I thought it would be a quick way to get a good quick table wine. I added the tea about two weeks prior to bottling. I had reduced the water originally added by a litter or so, knowing that I was going to add oak tea later. I repeatedly boiled/simmered the same cubes for 5-10 minutes, cooled the tea, added it to the wine, and then tasted it to determine if I was done. Even though the taste testing was almost immediate, the wine still required a couple of years to mellow out and begin to taste good. At 3 years they became very good table wines, better than I ever thought they would. Unfortunately, I drank most of it way before they became very good.
However, lately I have been using spirals to increase the oak flavor in my red wines. So if I was going to do it again, especially with a better wine kit, I would use 1-2 med-plus toasted French oak spiral(s) and taste it every 3-4 weeks. Even after removing the spiral(s), it is still going to take 1-2 years for the tannin to integrate with the wine.
So I do not think that using the tea speeds up the entire process. It only speeds up the tasting part of it. I have not done a side by side testing to determine if the use of tea after 2-3 years tastes the same as using a spiral. Everything that I read tells me that spirals are the way to go.